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Thread: The GLS is NOT HOT. If can wait pls WAIT for the next CM.

  1. #1
    Join Date
    Jun 2009
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    Default The GLS is NOT HOT. If can wait pls WAIT for the next CM.

    "The property market, before we implemented the cooling measures, was pretty hot," said Mr Menon.



    The GLS is NOT HOT the Developer just bid too high.







    SINGAPORE — The Monetary Authority of Singapore (MAS) is keeping a close eye on the property market after the city-state took a "decisive set of measures" three months ago to cool things down.

    "It’s too early to tell what the implications from the last round of tightening measures are," Mr Ravi Menon, managing director at the Monetary Authority of Singapore, said in an interview Tuesday (Oct 9). "It will take at least two to three quarters for the full implications to be understood. So we are watching that closely."

    Singapore’s surging property market had been out of sync amid slowing economic growth and a rising interest rate environment, and that was not sustainable, Mr Menon said. Housing prices on the Southeast Asian island jumped the most since 2010 before the government stepped in with tighter curbs in July. Singapore is the sixth-most expensive city in the world, according to an annual Bloomberg global city housing affordability index.

    "The property market, before we implemented the cooling measures, was pretty hot," said Mr Menon. "This was a wrong time to see a renewed property bubble. Not that there was a bubble, but we wanted to preempt that."

    The extra measures appear to be taking effect, with home prices growing at the slowest pace in five quarters in the three months through September, while enbloc sales of condominium buildings have collapsed. Singapore has one of the world’s highest rates of home ownership at about 90 per cent and is also home to many of the region’s millionaires.

    "The property market always warrants close watching, whichever direction it is inching towards," Mr Menon said. The latest property curbs "were taken at a time when we already knew about the risks facing the economy. We also knew and expected that growth was going to moderate gently into the second half of this year. So all those were taken into account." BLOOMBERG
    Last edited by Arcachon; 11th October 2018 at 08:17 PM.

  2. #2
    Join Date
    Oct 2018
    Posts
    11

    Default

    LOL! Mr Menon....well planned strategic speech.

    Open up the newspaper and you'll see the most recent statistics that private property transactions have moved up 51%. So all the talk about not hot....it seems like bullshit to me.


    ABSD increase of 5% is nothing for our foreign buyers. Savvy investors will know that the increased transactions is no surprise at all! The fundamentals of the market is strong. Singapore's economy is doing well, housing market is more regulated, Singapore's tax environment is fantastic for investors and globally markets are fundamentally strong.


    With so many projects launching up ahead, my money is on Kent Ridge Hill Residences its located near the MRT, good rental ability and has a huge future transformation going for it.


    If we bother to read up and gain knowledge for ourselves, we can easily sieve out the good properties from the bad. Don't be like those "wannabe investors" and just blindly buy.


    Investment takes knowledge, time, effort and experience...thats why only a few of us succeed.

    *Disclaimer im not promoting anything here, just sharing my two cents* Below are sources and places you can check out for more information.


    Source:
    http://www.straitstimes.com/business...-up-51-in-sept
    www.thekentridgehillresidencesg.com
    www.teoduoproperty.com

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