Wednesday, October 8, 2008

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Singapore Private Property Price Under Tremendous Pressure

Stock market fallen 45%.(STI 3800->2100)
Property sales down 81.4 per cent from August 2007. (1720 Aug 2007->320 Aug 2008)
GDP down 50% (2007 7.5% --> 2008 likely 4% or less)

Property price only down 1.8%? Sustainable? The support base is eroding month after month. If (when) it collapses, it will likely be serious.

Nicholas Mak:
‘As (these) problems persisted, it was only a matter of time before overall private home prices started to fall as well. Whatever price gain was achieved in the first half of this year will be given up in H2, resulting in flat prices for the whole of 2008.’

CB Richard Ellis’ executive director Li Hiaw Ho.:
‘Prices, which are now under tremendous pressure, are likely to decline again in Q4,’

DTZ’s Ms Chua.:
Even the OCR is unlikely to be immune. ‘While it has been performing better, prices in that area will also drop if the economic slowdown continues,’

Posted by Ann in the Singapore Property Forum.

May also want to read:
History of Singapore Property 1960 to 2008
HDB Resale flats Price Index 1990-2008: Graph & Chart
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


Ken Chua said...

I must thanks this Blog Creator for his hard works and contributions. We have never own a Private Property and live in HDB for 10 over years. But have 3 Factories as my business is in Engineering Line. Early of this year , I intended to buy a Condo at Sophia area , which around S$ 1700.00 per Sqft for my family.
Fortunately , I read about this Forum and decided not to buy it.
Thank You.

Smart Buyer said...

Dear Ken Chua,
Allow me to draw your attention to my disclaimer.

Good luck

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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)