Not to forget the financial crisis in 08.beppi wrote:Wishful thinking.
I hear the exact same arguments of an imminent an drastic decline in rents since I first set foot onto Singapore soil in 1992 - except rents never actually stopped increasing (except for a year or so during the Asian Financial Crisis 1997/98).
It won't happen now either!
Segue wrote:The cycles last about 10 years hear and we are in for another correction, its just a matter of when.
When I arrived in 2005, it was a buyer's market - prices were depressed relative to the years before and the LL was eager to negotiate a significant discount.
Brah wrote:The world we currently live in can't really be held to any previous cycles.
As I said in an earlier post, people I know who have been in business even longer than me, >25 years, all say this is the worst they've ever seen it, and that there is no indication that it will return to anything which any of us once knew.
I arrived in 2004 so I know what it was like then as well, and I'm of the opinion that this is no blip. Of course I could be wrong. I hope I am wrong.
Perhaps some of the finance guys like JR8, Aster or BillyB could chime in to yay or nay this view. I think they are finance guys....
Segue wrote:The cycles last about 10 years hear and we are in for another correction, its just a matter of when.
When I arrived in 2005, it was a buyer's market - prices were depressed relative to the years before and the LL was eager to negotiate a significant discount.
Landlord must have been a foreigner himselfSegue wrote:A bit more of some anecdotal evidence....
I met some other expats at a party and one had mentioned that his renewal came up and the landlord straight away offered $400 reduction on rent for renewal and had said the market was getting soft now.
Seems like a pretty honest landlord! Most would be out there claiming the market is still hot and trying to increase the rent.
And I, on the other hand, had an expat telling me his club st condo would go up a few hundred for sure due to demand in the area.Segue wrote:A bit more of some anecdotal evidence....
I met some other expats at a party and one had mentioned that his renewal came up and the landlord straight away offered $400 reduction on rent for renewal and had said the market was getting soft now.
Seems like a pretty honest landlord! Most would be out there claiming the market is still hot and trying to increase the rent.
He's in for a shockoffshoreoildude wrote:And I, on the other hand, had an expat telling me his club st condo would go up a few hundred for sure due to demand in the area.Segue wrote:A bit more of some anecdotal evidence....
I met some other expats at a party and one had mentioned that his renewal came up and the landlord straight away offered $400 reduction on rent for renewal and had said the market was getting soft now.
Seems like a pretty honest landlord! Most would be out there claiming the market is still hot and trying to increase the rent.
As a laugh, put in' beacon heights' into . and not how many units are for sale/rent! (134/84!)
Financial markets cycle = unpredictable now. The status quo has completely changed and it's nigh on possible to say with any certainty what the next year, let alone the next 5-10-25, will look like. Europe and the US is a sinking ship - the water is leaking from all over the place, yet all the Governments want to do is put sticking plaster over the holes. China is slowing and, as a result, so to is Australia. Some grim forecasts ahead in APAC. Revenue focus is now a cost focus which is worrying. Banks need to operate more efficiently to save costs. The cost of capital and how much they need to hold is being increased, although regulators can relax this (China) to stimulate activity. Rationalisation of technology and automation seem to be the key themes, as well as the 'not so cheap anymore' route of offshoring everything you can.Brah wrote:The world we currently live in can't really be held to any previous cycles.
As I said in an earlier post, people I know who have been in business even longer than me, >25 years, all say this is the worst they've ever seen it, and that there is no indication that it will return to anything which any of us once knew.
I arrived in 2004 so I know what it was like then as well, and I'm of the opinion that this is no blip. Of course I could be wrong. I hope I am wrong.
Perhaps some of the finance guys like JR8, Aster or BillyB could chime in to yay or nay this view. I think they are finance guys....
Segue wrote:The cycles last about 10 years hear and we are in for another correction, its just a matter of when.
When I arrived in 2005, it was a buyer's market - prices were depressed relative to the years before and the LL was eager to negotiate a significant discount.
revhappy wrote: Someone in the forum actually said something to the effect that "Like Germany is known for its world class cars, Singapore will be known for its world class condos"
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