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Singapore property rental market

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Wd40
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Re: Singapore property rental market

Post by Wd40 » Sun, 27 Sep 2020 6:09 pm

This article came few days back.

https://www.todayonline.com/singapore/f ... ghtly-569m

The population of SG has fallen for the 1st time in 10 years. There is going to be very less appetite to being in foreigners henceforth. With a declining population we will have vacant flats, so the past dynamics of property boom don't exist anymore.

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sundaymorningstaple
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Re: Singapore property rental market

Post by sundaymorningstaple » Sun, 27 Sep 2020 6:17 pm

Yep, they've complained their way to to verge of extinction. Pretty soon nobody will want to come to Singapore to work due to the animosity a with their sub-zero TFR. It is going to be a backwater in 30 more years. They are digging their own graves.

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Re: Singapore property rental market

Post by malcontent » Sun, 27 Sep 2020 11:59 pm

Singapore born Singaporeans have already become less than half of the population here, but there are some advantages - low TFR means less randomness in outcomes and fewer resources needed to raise the young. You can scoop off the best talent from the region during their prime years, and with any luck, they will return home to retire. The challenge is doing all that and retaining some semblance of a cohesive and society.

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Re: Singapore property rental market

Post by Max Headroom » Mon, 28 Sep 2020 10:21 am

Mal, generally people here haven't yet caught on that the fat property years are behind us. Hot money still flows into property... until it doesn't.

You can't have more units than people to live in them without prices going down. It's a matter of when.

Again though, I feel this is a good thing; it gets rid of the froth, deflates the bubble. Normalcy is where it's at, when it comes to homes anyway.

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Re: Singapore property rental market

Post by PNGMK » Mon, 28 Sep 2020 10:25 am

Singapore is still hugely attractive to smart people in the region who want to work away from their despotic or corrupt home country - I think Singapore will open the door once the ship is righted again - you are right Mal Content.

As for property - yes - it's in for a bashing.
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Re: Singapore property rental market

Post by TropicalExpat » Mon, 28 Sep 2020 11:27 am

Max Headroom wrote:
Mon, 28 Sep 2020 10:21 am
Mal, generally people here haven't yet caught on that the fat property years are behind us. Hot money still flows into property... until it doesn't.

You can't have more units than people to live in them without prices going down. It's a matter of when.

Again though, I feel this is a good thing; it gets rid of the froth, deflates the bubble. Normalcy is where it's at, when it comes to homes anyway.
While generally this is true. It does depend on how people view Singapore. Singapore is well known to be attractive for some citizens of other countries when they want to get their assets out of their home nation and into somewhere close by and safe.
Nothing from my visits to those nearby countries suggest to me that the stability of those countries has improved.
Of course making large sums of money from property is behind us, but money will probably continue to flow, until the gahmen is forced to make more radical changes.

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Re: Singapore property rental market

Post by Max Headroom » Mon, 28 Sep 2020 1:05 pm

I agree that those dynamics are still in place. Problem is that people overseas may want to build themselves a future in Singapore but that doesn't mean they will be able to, given the rather different immigration/employment landscape now, even without factoring Covid-19.

Sure, there will be new PRs and EPs, but the numbers will likely be a fair bit lower than in the past, certainly lower than the property industry has bargained for.

One thing's for sure: It ain't gonna be boring.

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Re: Singapore property rental market

Post by Max Headroom » Mon, 28 Sep 2020 1:45 pm


malcontent
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Re: Singapore property rental market

Post by malcontent » Tue, 29 Sep 2020 7:02 pm

Throwing up more curbs indicates fear that property prices could go higher, no?

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Wd40
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Re: Singapore property rental market

Post by Wd40 » Tue, 29 Sep 2020 8:11 pm

malcontent wrote:
Tue, 29 Sep 2020 7:02 pm
Throwing up more curbs indicates fear that property prices could go higher, no?
I think this particular curb that Max Headroom has linked, is more about artificial inflation of sales figures, rather than curbing property prices.
This latest move by the URA is aimed at curbing a property market practice believed to be inflating private home sales figures, while encouraging financial prudence in home buying amid a weak economy and uncertain employment climate.

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Re: Singapore property rental market

Post by malcontent » Tue, 29 Sep 2020 9:09 pm

Thanks for clarifying. It will be interesting to see how things play out into next year. The curbs have been pretty harsh, would be nice if they could start to be eased - but it’s also a nice stream of tax revenue.

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