If you believe this you will believe anything, good luck!CarBaby wrote:I have posted this 23-Jan-2008, here is my viewunemployed man wrote:You guys are quite negative but conservative. At least you wouldn't lose any money in this market. For me, i am hunting around for bargains cause i wouldn't want to start fighting for good buys when the sky clears.
I understand the basis of property that what goes up must come down. Problem is, i will stay here for quite sometime so renting is not really good for me. Plus, my jobscope is IR related and i seriously see the potential of what will become of this red dot.
I am in fact looking around the east coast region for a year already, especially near marina bay. I have seen the prices of a 2bd unit of the sail go from 900k to 2.5mil. Now the same type of unit is still around 2-2.3mil. Still waiting, but how low can it go? I'd rather go look somewhere else. It least somewhere i can afford.
Singapore property downturn has overlong lasting from 1997 until 2007 then pick up in about 30%. for those people who are interested in long term investment in property, better buy now since the market has slow down a bit before it is too late.. don't expect for fall 20% from the current level, that is history.... for district 9 Dhoby Ghaut MRT, river valley area.
all future near MRT condo are selling $1000 up (minimum) so dun't expect district 9 to come any closer to this range....
with the economy slowing down, investment in share market has taken a bitten, US interest rate cut of 0.75 percent to 3.5%....smart people will transfer their money investment to a save heaven which is property sector in singapore which has not been raisen so much as compare to those asian countries...about 30% for 2007....
singapore has attracted new investment and created another 8000 new jobs in the last quarter of 2007. more foreign are expected to come into singapore. Even more jobs creation when the casino start to operate, more foreigner will come into singapore....singapore infractstucture have improved since 1997 and the proper market has slowed down for about 10 years, year 2007 is the first year proper market pick up, it will not die down so soon..... mininum expect to grow for at least 5 - 10 years. as long as economy grow, property price will increase accordingly. Even with a higher inflation rate, property price will grow faster that means (economy + inflation) rate together....
anyone who handle building project know that the copper, sand, raw material has increase more than 200%, labour cost, land price has increased alot, a 30% jump in property price in auctual fact nett off all those cost, it is only an increase of less than 10%..
i am happy to say that the down turn in the US property market has created a non-bubble property market trend in singapore, a steady growth.....why i say so ? just imagine if the US economy is going to boom for any 2 more years......until 2009..... what happen to singapore property market ? 30% increase in 2007... 35% increase in 2008.... 40% increase in 2009..... this is a TRUE BUBBLE....