In URA's press release today:
"...The increase in private housing prices in recent quarters is in line with greater economic growth and rising confidence. Private housing prices are now increasing at a faster pace because of good economic prospects going forward and the increasing attractiveness of Singapore as a global city."
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Originally Posted by Unregistered
Wow!
Southbank got subsale or not.
What is the best psf to buy?
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Irene 9677-6428, DTZ
Southbank
#20 up, 958 sqft ...... $1,250 psf
#30 up, 614 sqft ...... $1,500 psf
#30 up, 969 sqft ...... $1,500 psf
Citylights
#20 up, 893 sqft ...... $1,500 psf
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In the URA website, there is a 1,313sqft 3-bedder done at $1,051 psf in June. What floor is this unit?
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The Straits Times
6 July 2007
The booming property market will drive prices for private housing above the 1996 peak by the middle of next year, according to an HSBC economist.
Senior Asian economist, Robert Prior-Wandesforde, said on Friday, "The real estate market has probably further to run. We may be in some of the earliest stages of a bubble, but there is more for prices to go."
"The private residential market is nowhere near that of mid-1996, so there is still room (for prices) to appreciate further even if we're in the early stages of a bubble."
Mr Prior-Wandesforde believes that property prices will go higher partly because the ratio of home prices to income is only half that of 1996.
Wage growth is also running at multi-year highs and interest rates are low.
He also cited the speculative activity that is boosting prices.
And while prices in strict number terms may pass 1996 levels soon, once factors including wage levels are accounted for, the real catch-up will be some way off.
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