I personlly don't see prices dropping at all, and the statistics, show they have moderated, but are not expected to drop.Guowei58 wrote:I'm curious as to people's views of the current state of the housing market - is it still pretty frothy?
My sense (after a two week intensive search for a condo) is that the market has slowed down quite a bit, and the absorption rates for new condos are very low right now, especially for the higher end properties.
For example, i recently signed a 2-year lease at 8@Mount Sophia, a new building, and the building is 70% empty right now (2-3 months after opening). My guess is that most of the people who bought initially were investors, and the inventory is taking longer to rent out.
Don't know if this is just a short-term blip...
Most single Singaporeans still live with their families (parents). I found out that if they want to buy their own HDB unit, they have to be around 35 years old. If they're married, they can buy HDB without this age cut-off.Bafana wrote: Even HDB rental is over 2K a month now in the East Coast - This is more then the average Income of a Singaporean. Still belive there is a bubble and the current circumstance is a created scenario rather then real market reaction.
Hi Bafana, I wasn't actually thinking of western talent at all, when i made my assumptions.Bafana wrote:Think that's pretty optimistic as local talent and regional talent for 1/3 cost has advanced greatly and reliance on western talent has diminished or is only being paid for at more realistic rates then before. The majority of Expat Packages are dead or will die due to economic reality.
Cannot see how talent salries can match the rental prices as they are now unless they are from high end groups nlike banking and dount there are 70-80k bankers waiting to relaocte to Singapore. Could be wrong on that but don't think so.
Even HDB rental is over 2K a month now in the East Coast - This is more then the average Income of a Singaporean. Still belive there is a bubble and the current circumstance is a created scenario rather then real market reaction.
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