Sing Property PriceSwings?

[MBalen]

Hi!
Interested in purchasing a primary residence. However, I know that the past ten years have been 9 years of drama and so..

Does anyone have any TREND pricing links so that I can see AND CHART what part of the long-term housing trend Singapore is currently in?

I really do NOT want to buy at the top of a market. I will rent 'till Kindom Come, but want to avoid Japanese-style stagflation.



Thanks!!

[sundaymorningstaple]

Singapore enjoyed a property boom that went from zero around '82 and ran nonstop until the asian financial meltdown in '97-'98. The market finally bottomed out in Jan-Feb '99 then started back up again until around 2001 when the next recession hit. This has shown everybody that the market here is now very unstable. However, currently the market is on the upswing due to the resurgent economy and IR's which are pulling all segments of the property market upward albiet at different speeds depending on location. From a 25 years observation perspective (please note I said observation and not participation!) I would think it will continue to grow at a rapid clip for the next 3 years until the IR's are ready and maybe for a year or two afterwards. This will probably be in the prime districts and the southern half of the island in general with the rest advancing at a rate more in line with the economic growth.

I am not a real estate person so what I say shouldn't be counted on as the gospel but purely as an observer with nothing to lose (I bought my flat at the bottom of the market in Jan '99)

Hopefully the others who are in the investment/banking arena or our admins (also our hosts) will add their expertise to this dialog.

sms

[Bonbon]

dont know about the FUTURE trend, or HISTORICAL trend, but certainly for the RECENT trend, you can try the link below to see the property sales info for different condos/apartments or areas


http://spring.ura.gov.sg/lad/ore/real_e ... action.cfm

click proceed..

property market (doesnt matter which project you click) would show you it's MAD out there!

hope it helps!

good luck!

[huggybear]

Investment bankers / real estate agents are not good at predicting the future. they can only tell you what's going on: RIGHT NOW.

If they were any good at predicting the future why wouldn't they:
(1) work for themselves instead of for someone else

(2) already have amassed a fortune or are retired or leisurely trading their billions of dollars

Anyways, i'm one of those hated "banker" people. The current prognosis is exactly what SMS says. Next two years are expected to continue to see strong price appreciation with a lot of supply coming to market in 3 years. Everyone around the world is white hot to invest in Asia and singapore's real estate market has lagged that of: Shanghai, Seoul, HK, Tokyo, etc. So foreigners see value in Singapore real estate.

That being said no one really was able to predict the Asian Financial Crisis of 1997, the tech bubble bursting in the US in 2001 (and leading to another soft period in Asia), etc.

The only risk I see in the market at this moment in time is that the Chinese stock market is a bubble and it's going to end badly. However, Everyone depends solely on the US economy in Asia. If China's bubble bursts and it's only a domestic problem, and doesn't cause a systematic regional crisis as in 1997 then happy days should continue. If the US goes into recession or we have another 1997 style crisis thanks to China's equity market imploding then you'll be toast.

Furthermore, Japan had "deflation" (negative inflation), not "stagflation" which is high inflation and zero growth. Japan went into deflation because their real estate market was a bubble and it burst. Singapore's market isn't a bubble because now in 2007 people are finally breaking even on their investments on purchases made in 1997.