View Full Version : Percentage of foreign buyers has dropped significantly
The last round ABSD had this effect on foreigner:
"foreigners who were not Singapore PRs accounted for just 6.2 per cent of the 23,312 caveats lodged for private homes excluding executive condos in the first nine months (2012) - down from their 17.5 per cent share in full-year 2011."
So why are we still talking about foreigners flocking into Singapore? There was perhaps a little increase of the percentage in 4Q2012, but with the new ABSD, the percentage of foreign buyers is going to stay low for a considerable amount of time...
And all the talks about how good our Singapore is, how Indians and PRCs like Singapore, all these are already well known fact for many years, it is not very relevant to keep repeating that, perhaps just to give mental support to each other? One needs to look at the percentage stated above.
and your point is? what are you trying to prove? :beats-me-man:
and your point is? what are you trying to prove? :beats-me-man:
So by extension, demand coming down, prices will crash. :D
Foreigners are not abandoning sg property. Its like any other investment... Investors are looking for a greater return. At this very moment unfortunately it is better for them to invest in their home land properties than sg properties. Indonesia property is experiencing a huge capital appreciation that u will never believe. Now their capital appreciation is such a way that sg property beginning to look cheap. This is one of the reason that the gov implement 3% + 18% stamp duty. This situation will not last forever. The rise of the new rich from our neighbourhood countries will find its way into sg properties sooner rather than later.
and your point is? what are you trying to prove? :beats-me-man:
His pt is that many agents/owners keep talking in this forum about how foreigners are flocking to SG to buy properties, but this pt is not proven in the 2012 caveats lodged.
The last round ABSD had this effect on foreigner:
"foreigners who were not Singapore PRs accounted for just 6.2 per cent of the 23,312 caveats lodged for private homes excluding executive condos in the first nine months (2012) - down from their 17.5 per cent share in full-year 2011."
So why are we still talking about foreigners flocking into Singapore? There was perhaps a little increase of the percentage in 4Q2012, but with the new ABSD, the percentage of foreign buyers is going to stay low for a considerable amount of time...
And all the talks about how good our Singapore is, how Indians and PRCs like Singapore, all these are already well known fact for many years, it is not very relevant to keep repeating that, perhaps just to give mental support to each other? One needs to look at the percentage stated above.
My colleague bought a old single storey original condition semi-d for 1.15m about 2 1/2 yrs ago. Recently put up on the market for sale. 5 people came to view and 3 offers were made and all 3 were PRCians. Highest offer was 2.45m. All 3 PRCians were parents of kids who became Singaporean after studying here. So technically still foreigners except for one family member. The foreigners especially the PRCians have their way on bringing their millions here with miminum penalties.
The govt in their quest to keep the population ratio balanced, seems to be dishing out PRs and citizenships more easily to PRCians than any other ethnic group.
So forget about all those published figures.
My colleague bought a old single storey original condition semi-d for 1.15m about 2 1/2 yrs ago. Recently put up on the market for sale. 5 people came to view and 3 offers were made and all 3 were PRCians. Highest offer was 2.45m. All 3 PRCians were parents of kids who became Singaporean after studying here. So technically still foreigners except for one family member. The foreigners especially the PRCians have their way on bringing their millions here with miminum penalties.
The govt in their quest to keep the population ratio balanced, seems to be dishing out PRs and citizenships more easily to PRCians than any other ethnic group.
So forget about all those published figures.
To make it more clearer , the property is bought in the name of their child who has become a local and all money is provided by the parents. How can landed property prices ever decline until the govt makes it just as strict for PRCians to become Singaporeans.
My colleague bought a old single storey original condition semi-d for 1.15m about 2 1/2 yrs ago. Recently put up on the market for sale. 5 people came to view and 3 offers were made and all 3 were PRCians. Highest offer was 2.45m. All 3 PRCians were parents of kids who became Singaporean after studying here. So technically still foreigners except for one family member. The foreigners especially the PRCians have their way on bringing their millions here with miminum penalties.
The govt in their quest to keep the population ratio balanced, seems to be dishing out PRs and citizenships more easily to PRCians than any other ethnic group.
So forget about all those published figures.
in mid 2010, i was looking at an original state 1 storey semi det in sembawang asking for <1.0mil. someone bot it b4 i could make an offer. :banghead: :banghead: :banghead: :banghead:
Most foreign property investment are located at ccr areas. The ccr areas have been the laggard in term of capital appreciation and rental yield. When the momentums are back to ccr areas, that's where u will see the return of foreign investors.
in mid 2010, i was looking at an original state 1 storey semi det in sembawang asking for <1.0mil. someone bot it b4 i could make an offer. :banghead: :banghead: :banghead: :banghead:
Yes the house I am referring to is also in Sembawang , near the beach. Land area is 2400sq ft. The PRCians are very active in the landed property market but for many of them their caveats will still show them as locals as it is bought in their children's name. The huge increase in prices of the landed property market could be attributed to the PRCians, to a large extent.
Not only the number of foreigner buyers is dropping.
The number of SCs and PRs granted each year have also been dropping:
a quick glance through the NPTD paper shows that:
79,167 PRs were granted in 2008 while only 27,521 were granted in 2011. For SCs, that was 20,513 and 15,777.
The granting of PR has shown a sharp decrease.
My colleague bought a old single storey original condition semi-d for 1.15m about 2 1/2 yrs ago. Recently put up on the market for sale. 5 people came to view and 3 offers were made and all 3 were PRCians. Highest offer was 2.45m. All 3 PRCians were parents of kids who became Singaporean after studying here. So technically still foreigners except for one family member. The foreigners especially the PRCians have their way on bringing their millions here with miminum penalties.
The govt in their quest to keep the population ratio balanced, seems to be dishing out PRs and citizenships more easily to PRCians than any other ethnic group.
So forget about all those published figures.
Most foreign property investment are located at ccr areas. The ccr areas have been the laggard in term of capital appreciation and rental yield. When the momentums are back to ccr areas, that's where u will see the return of foreign investors.
For the PRCians anything goes. When the CCR market starts stirring it means more non-PRCians are in the market.
Not only the number of foreigner buyers is dropping.
The number of SCs and PRs granted each year have also been dropping:
a quick glance through the NPTD paper shows that:
79,167 PRs were granted in 2008 while only 27,521 were granted in 2011. For SCs, that was 20,513 and 15,777.
The granting of PR has shown a sharp decrease.
Kindly add up the total number of PRs over the 5 years. The number is mind bogling. with some many hundred of thousands, "What do you think?" :scared-2:
Not only the number of foreigner buyers is dropping.
The number of SCs and PRs granted each year have also been dropping:
a quick glance through the NPTD paper shows that:
79,167 PRs were granted in 2008 while only 27,521 were granted in 2011. For SCs, that was 20,513 and 15,777.
The granting of PR has shown a sharp decrease.
But a large number of them are still for PRCians, which are a major source of buyers in the market. Can you get figures for how many were PRCians, Indians, etc.? Previously the proportion of Indians granted PRs and Citizeships was very large but based on anecdotal evidence this has gone down while the number for PRCians remain high.
Not only the number of foreigner buyers is dropping.
The number of SCs and PRs granted each year have also been dropping:
a quick glance through the NPTD paper shows that:
79,167 PRs were granted in 2008 while only 27,521 were granted in 2011. For SCs, that was 20,513 and 15,777.
The granting of PR has shown a sharp decrease.
The price of PR ship now is minimum of 2.5 million dollar. Although there is a sharp decrease, the quality improve a lot.
acidic.straw
23-01-13, 10:38
Foreigners are not abandoning sg property. Its like any other investment... Investors are looking for a greater return. At this very moment unfortunately it is better for them to invest in their home land properties than sg properties. Indonesia property is experiencing a huge capital appreciation that u will never believe. Now their capital appreciation is such a way that sg property beginning to look cheap. This is one of the reason that the gov implement 3% + 18% stamp duty. This situation will not last forever. The rise of the new rich from our neighbourhood countries will find its way into sg properties sooner rather than later.
3% + 15% stamp duty :)
The point is... Many singaporeans are so unaware, that the gov are protecting them so much. If u have to live in neighbouring countries you will be so shock out of your shell. You who wish that the prices will drop will be so despair when it actually came true. It is the money that separate us from the rest of the world. Once its breached u will cry mother and father.
3% + 15% stamp duty :)
I stand corrected
Not only the number of foreigner buyers is dropping.
The number of SCs and PRs granted each year have also been dropping:
a quick glance through the NPTD paper shows that:
79,167 PRs were granted in 2008 while only 27,521 were granted in 2011. For SCs, that was 20,513 and 15,777.
The granting of PR has shown a sharp decrease.
15,777 of SCs in a year! 20,513 PRs? Some more all highly qualified, earning higher than our average income? I think the 200K new houses will not last long at all. Plus our own demand, maybe just meet demand only.
From Business Times, Jan 23, 2013:
Last year, foreigners who were not Singapore permanent residents (PRs) accounted for just 6.3 per cent of all private home purchases on the island - the lowest proportion since 2003 and a significant drop from the 17.6 per cent share in 2011, Knight Frank's analysis of URA Realis caveats data showed.
"The record low proportion is a reflection of reduced foreign buying interest arising from higher (transactional) cost, with the introduction of 10 per cent ABSD on all residential property purchases by non-PR foreigners starting Dec 8, 2011," said Knight Frank's senior manager, consultancy and research, Alice Tan.
And with the ABSD rate for this group jacked up to 15 per cent since Jan 12 this year, Knight Frank forecasts that these non-PR foreigners' share of private home buying will shrink to 5 per cent in the first six months of this year.
wait for the paper - coming soon
http://www.reach.gov.sg/YourSay/DiscussionForum/tabid/101/mode/3/Default.aspx?ssFormAction=[[ssBlogThread_VIEW]]&tid=[[7169]]
Another key point from the paper is that regardless of scenario, Singapore’s citizen population will continue to age. From now to 2030, Singapore will see ‘an unprecedented age shift, as over 900,000 baby boomers will retire from their workforce’, according to NPTD. Without immigration, there will be a plunge in the number of working adults supporting the elderly, from the current 6.3 to 1 to 2.1 to 1.
Responding to media queries, NPTD has stressed that the Government ‘will continue to ensure that we take in immigrants who are of good quality and able to integrate well into our society’. Applications are assessed holistically on criteria, such as applicants’ family ties to Singapore, economic contributions, qualifications, age and commitment to sinking roots in Singapore.
From Business Times, Jan 23, 2013:
Last year, foreigners who were not Singapore permanent residents (PRs) accounted for just 6.3 per cent of all private home purchases on the island - the lowest proportion since 2003 and a significant drop from the 17.6 per cent share in 2011, Knight Frank's analysis of URA Realis caveats data showed.
"The record low proportion is a reflection of reduced foreign buying interest arising from higher (transactional) cost, with the introduction of 10 per cent ABSD on all residential property purchases by non-PR foreigners starting Dec 8, 2011," said Knight Frank's senior manager, consultancy and research, Alice Tan.
And with the ABSD rate for this group jacked up to 15 per cent since Jan 12 this year, Knight Frank forecasts that these non-PR foreigners' share of private home buying will shrink to 5 per cent in the first six months of this year.
The article also forecast that PR private home buyers will also drop a lot, from 15.8% share in 2012 to 5-10% share in first half of 2013.
The last round ABSD had this effect on foreigner:
"foreigners who were not Singapore PRs accounted for just 6.2 per cent of the 23,312 caveats lodged for private homes excluding executive condos in the first nine months (2012) - down from their 17.5 per cent share in full-year 2011."
So why are we still talking about foreigners flocking into Singapore? There was perhaps a little increase of the percentage in 4Q2012, but with the new ABSD, the percentage of foreign buyers is going to stay low for a considerable amount of time...
And all the talks about how good our Singapore is, how Indians and PRCs like Singapore, all these are already well known fact for many years, it is not very relevant to keep repeating that, perhaps just to give mental support to each other? One needs to look at the percentage stated above.
so knowledgeable and smart, can you be my idol
From Business Times, Jan 23, 2013:
Last year, foreigners who were not Singapore permanent residents (PRs) accounted for just 6.3 per cent of all private home purchases on the island - the lowest proportion since 2003 and a significant drop from the 17.6 per cent share in 2011, Knight Frank's analysis of URA Realis caveats data showed.
"The record low proportion is a reflection of reduced foreign buying interest arising from higher (transactional) cost, with the introduction of 10 per cent ABSD on all residential property purchases by non-PR foreigners starting Dec 8, 2011," said Knight Frank's senior manager, consultancy and research, Alice Tan.
And with the ABSD rate for this group jacked up to 15 per cent since Jan 12 this year, Knight Frank forecasts that these non-PR foreigners' share of private home buying will shrink to 5 per cent in the first six months of this year.
Are u expecting a fall in prices?
The pressure will be on the downside, due to the demand/supply imbalance...
Are u expecting a fall in prices?
The pressure will be on the downside, due to the demand/supply imbalance...
Are u at this very moment already see the imbalances in favour of supply rather demand? If not yet, when are u going to see such situation begin to happen.
Yes the house I am referring to is also in Sembawang , near the beach. Land area is 2400sq ft. The PRCians are very active in the landed property market but for many of them their caveats will still show them as locals as it is bought in their children's name. The huge increase in prices of the landed property market could be attributed to the PRCians, to a large extent.
Hi Nav
Really, that's not good news. So now landed properties are owned by 'non-local'? I also drive by some houses, currently rebuilding, usually owners name on the board is a foreign name....sigh
Imagine buying a investment tools and lose 20% up front.. I think rich people will really think twice before investing.. They have to ask a few question
1) When can I break even? Foreigners are being tax 19% to 31% depending on how long they hold their property. That means the property must at least raise by 19% to 31% for them to break even. (That exclude all the misc charges) Good Deal?
2) What is the potential upside? Is Singapore Property going to raise another 50% or 100% in the next few years? What is the downside if the economy goes wrong or more CM? 10% or 20% in the next few years?
3) Is there a better investment opp? Is it better to invest in other place or other investment tools? Like investing in USA, Brazil, Australia, etc.. Or investing into gold, equity, etc?
I believe unless that they have a clear answer for the above question. I am not sure they will come for investment...
2010-basic shouting since i joined, price never come down
2011-basic shouting since i joined, price never come down
2012-basic shouting since i joined, price never come down
2013-economist?
anyway i like your analogy economist. but you got to factor in whether developer lower the land price for you. the portion on land bid is most critical because it is the segment that has outperformed inflation. even you say PR, foreigner not buying not buying, supply outstrip demand. If developer balance sheet net debt is < 0, you think they care about you?
They just hold, though CM bring their revenue down. They continue holding and outlast. Even with less bids, prices will trend sideways. The big property counters are very cautious this time round. Give you CDL for example, their cash almost == current liabilities with the most land bank. With this kind of cash they got no problem holding for the next 5 years.
If you look at the buying in Nov/Dec last year, you will notice that there is a spike of foreigners buying. Thats why the CM was quickly put up.
I agree that out government is very protective of us - both upside and downside.
But deep inside, we all know that government wants economy to continue growing, government want property prices to trend with economic GROWTH.l
First time I hear population increase property prices drop - even the the Pasir Ris auntie or Jurong uncle will not understand.
Forummers, try putting up you unit for sale for 2 weeks, use the average price of the last few transactions, you will then know what is the market demand now.
Office Boy dont have anything to sell now, so you guys tell me la!
DKSG
They just hold, though CM bring their revenue down. They continue holding and outlast. Even with less bids, prices will trend sideways. The big property counters are very cautious this time round. Give you CDL for example, their cash almost == current liabilities with the most land bank. With this kind of cash they got no problem holding for the next 5 years.
Paisei, just asking, I thought there is rule on the developer, especially with foreign share holder, must complete and sell a project by a certain date... They can't hold forever right? :ashamed1:
Hi Nav
Really, that's not good news. So now landed properties are owned by 'non-local'? I also drive by some houses, currently rebuilding, usually owners name on the board is a foreign name....sigh
Is quite true even HDB had open up their doors for new citizen.
Applying HDB used to be so stricts during our time. Married is the first requirement, then follow by 35 years of age but now they welcome all the new SC and allowing them to apply HDB... that's speaks alot about govt wanting rich PRC as SC so badly.
A 29 years old recently converted to SC applied for HDB got approval to buy HDB resale (with grant) together with his mum who is on dependent pass. Mum is funding for the HDB flat. Just bought one at $650k 4 room resale HDB.
if you compare him with a newly wed young Singaporean who waited years for new flats just becoz they're a normal SC who was born in a normal family without rich mum/dad...... ultimately new SC is easily benefited than a true blue Singaporean..:rolleyes: :rolleyes: in Govt collective data, they're making ways to get SINGAPOREAN to own a flat faster! Sad thing is the true Singaporean is still on the Q for new flats!
What I'm trying to say is. It makes no different to be A local born Singaporean and a new SC. In a way we're still lose out to foreigner if we're not rich enough. Is quite worrying for our new generation don't you think so?
so what's the reason why the foreigners are not really buying the properties here? such that the locals and prs have better chance to buy it no?
this isn't a new phenomenon......:doh: had occured since a couple of CMs ago.
what's the point of this thread?? :banghead: :banghead:
prices drop due to imbalance in supply and demand?! u simply forgot about the price of land.....if the price of land keep going up, prices are only going to move in one direction - UP! is the government going to lower land prices? go figure that out.
A bit digress here, but I thought of an article I read before, as you appear to have some hard feelings towards foreigners or new SCs. I found it quite well written. Anyway, I think Singapore really needs them, hard feeling granted, it is also good to know that Singapore does not allow dual nationality, so they are bound to live here, spend here, and contribute.
http://ipscommons.sg/index.php/categories/featured/78-the-end-of-identity
Is quite true even HDB had open up their doors for new citizen.
Applying HDB used to be so stricts during our time. Married is the first requirement, then follow by 35 years of age but now they welcome all the new SC and allowing them to apply HDB... that's speaks alot about govt wanting rich PRC as SC so badly.
A 29 years old recently converted to SC applied for HDB got approval to buy HDB resale (with grant) together with his mum who is on dependent pass. Mum is funding for the HDB flat. Just bought one at $650k 4 room resale HDB.
if you compare him with a newly wed young Singaporean who waited years for new flats just becoz they're a normal SC who was born in a normal family without rich mum/dad...... ultimately new SC is easily benefited than a true blue Singaporean..:rolleyes: :rolleyes: in Govt collective data, they're making ways to get SINGAPOREAN to own a flat faster! Sad thing is the true Singaporean is still on the Q for new flats!
What I'm trying to say is. It makes no different to be A local born Singaporean and a new SC. In a way we're still lose out to foreigner if we're not rich enough. Is quite worrying for our new generation don't you think so?
A bit digress here, but I thought of an article I read before, as you appear to have some hard feelings towards foreigners or new SCs. I found it quite well written. Anyway, I think Singapore really needs them, hard feeling granted, it is also good to know that Singapore does not allow dual nationality, so they are bound to live here, spend here, and contribute.
http://ipscommons.sg/index.php/categories/featured/78-the-end-of-identity
This Love-Hate-Cannot do without feeling has been around for years.
Government is very torn. Because on one hand, we all know that we want and need the economic growth to upkeep the standard of living, and on the other hand, we dont want the engine that has been the basis of that growth.
This is the same as I tell my Boss - I want the pay, but I dont like to come to offfice to do work - delivery documents, make coffee.
At the end of the day, Office Boy can tell you easily that economic growth is preferred, feelings will be suppressed. Same as the reason why Office Boy comes to work today!
Haha!
DKSG
PS : The result of this will be found in the Population White Paper.
buttercarp
24-01-13, 09:28
A 29 years old recently converted to SC applied for HDB got approval to buy HDB resale (with grant) together with his mum who is on dependent pass. Mum is funding for the HDB flat. Just bought one at $650k 4 room resale HDB.
Oh, now single SC below 35 years old can buy HDB flat together with dependent pass parent?
Oh, now single SC below 35 years old can buy HDB flat together with dependent pass parent?
How does HDB verify that they don't own any overseas properties? Nearly impossible in my opinion...
This Love-Hate-Cannot do without feeling has been around for years.
Government is very torn. Because on one hand, we all know that we want and need the economic growth to upkeep the standard of living, and on the other hand, we dont want the engine that has been the basis of that growth.
This is the same as I tell my Boss - I want the pay, but I dont like to come to offfice to do work - delivery documents, make coffee.
At the end of the day, Office Boy can tell you easily that economic growth is preferred, feelings will be suppressed. Same as the reason why Office Boy comes to work today!
Haha!
DKSG
PS : The result of this will be found in the Population White Paper.
i don't think singaporeans are against economic growth. but when public policies fail to catch up and a dichotomy grows between trumpeted slogans and reality on the ground, more singaporeans are going to fall through cracks. that's when public distrust and displeasure builds up.
e.g. when COE/ERP fails to curb road congestion as being widely touted to by government, it can't be helped that they are construed as perverse tools to collect more monies.
while i'm happy to have rising property prices as a vested owner, i'm worried for my kids.
How does HDB verify that they don't own any overseas properties? Nearly impossible in my opinion...
can't lah, that CM is just BS and calling bluffs
i don't think singaporeans are against economic growth. but when public policies fail to catch up and a dichotomy grows between trumpeted slogans and reality on the ground, more singaporeans are going to fall through cracks. that's when public distrust and displeasure builds up.
e.g. when COE/ERP fails to curb road congestion as being widely touted to by government, it can't be helped that they are construed as perverse tools to collect more monies.
while i'm happy to have rising property prices as a vested owner, i'm worried for my kids.
Your worries are not unfounded.
But I guess you can do something now to give them a headstart.
DKSG
Your worries are not unfounded.
But I guess you can do something now to give them a headstart.
DKSG
haha, for sure. looking back at Sunday Times, kids are now borrowing tens to hundreds of thousands to buy their first property.
got me thinking if we should have a property endowment plan, on top of the education endowment plan :scared-3: :scared-3:
I personally think there's nothing wrong with having lots of foreigners here for business, but we should be more stringent in who we call a PR or a citizen. We -can- be both a global city and a country with an identity if the 'others' here on business, who bring the 'global' to the global city, are content being 'others'. We should not be handing out citizenships just because someone contributed to our growth/taxes. If they plan to live here, become PRs, become citizens, then they should integrate into the national identity, or be satisfied being ostracized. First generation Chinese immigrants in America who refuse to learn English remain 'others' pretty much all their lives, cooped up in their Chinatown enclaves and generally ignored. Their children however, integrate, speak American English, study in public schools and thus have adopted elements of the national identity, allowing them to be considered true blue Americans. It may not sound like a very nice thing to do to the 1st gens, but notice how their children never have any problems so long as they are willing to integrate; and that's precisely why they moved - to give their children a better life.
quoted from the article. i think this sums up my view of our immigration policy.
quoted from the article. i think this sums up my view of our immigration policy.
our government is balless and toothless in getting these new immigrants to integrate.
we kenna denigrated by PRC student as dogs, MP tell us to self-reflect.
now, grassroot leaders (a true account) bring new citizens to garden by the bay for outing and treat them to nice dinners at restaurants, using public monies. as a singapore citizen, i need to pay more than $20 for entry. go figure that out.
i'm not anti-FTs, but i do agree that policies need to be calibrated.
our government is balless and toothless in getting these new immigrants to integrate.
we kenna denigrated by PRC student as dogs, MP tell us to self-reflect.
now, grassroot leaders (a true account) bring new citizens to garden by the bay for outing and treat them to nice dinners at restaurants, using public monies. as a singapore citizen, i need to pay more than $20 for entry. go figure that out.
i'm not anti-FTs, but i do agree that policies need to be calibrated.
If you see these as downlines of MLMs and you are the uplines, you wont complain la!
These are the people we trying to bring in so that they can be taxpayers next time....
DKSG
If you see these as downlines of MLMs and you are the uplines, you wont complain la!
These are the people we trying to bring in so that they can be taxpayers next time....
DKSG
wah good one. but then usually the upline earn alot leh. how come we dun? :D
wah good one. but then usually the upline earn alot leh. how come we dun? :D
Must learn the rope from Tin pei ling and join the ranks..
wah good one. but then usually the upline earn alot leh. how come we dun? :D
Because you and me are the passive uplines. We didnt go and recruit mah!
Jokes aside, I think you understand what I mean.
Back to the topic on foreign buyers. The number should reduce in Jan 2013, but Office Boy understands that there are already quite a few funds lining up and waiting to get into our market.
I bet Keppel (when buying CityVista) has more information than me (of course la! I only Office Boy) .... These funds are usually in the $100-$500 range ... not thousands ok ?! ... its millions!
DKSG
Because you and me are the passive uplines. We didnt go and recruit mah!
Jokes aside, I think you understand what I mean.
Back to the topic on foreign buyers. The number should reduce in Jan 2013, but Office Boy understands that there are already quite a few funds lining up and waiting to get into our market.
I bet Keppel (when buying CityVista) has more information than me (of course la! I only Office Boy) .... These funds are usually in the $100-$500 range ... not thousands ok ?! ... its millions!
DKSG
A few of my bosses who are all high fliers coming from US, India etc are vested in London and NZ properties lately, just rented for stay here n dun think either one got any intention to buy proprties in Sg at the moment leh...
OUE and wheelock are very good examples. Cm7 is going to be very effective this round.
A few of my bosses who are all high fliers coming from US, India etc are vested in London and NZ properties lately, just rented for stay here n dun think either one got any intention to buy proprties in Sg at the moment leh...
That is how our property market works... If those expats all cheongster buy the property they are staying here, we would have got a bursted bubble long ago.
In my Office, locals buy properties, expats rent them. Though they cannot rent directly from their colleagues, but thats how local property owners work.
As long as the expats keep coming, as long as we move our so-called population (be it citizens, PRs or just CEOs, Country Chairmans, COOs) keeping growing, the property market is supported, price go up!
With the population WP, we are expected to grow till 7 million in next 10 years (I think - just my guess that they wont increase at too fast a speed), property market is supported.
But more importantly, commercial properties will be in shortage.
Look around, we keep building condos after condos in Orchard, Newton, etc areas, but if you own a shop in Lucky Plaza or whereever nearby, you will notice there is not a corresponding increase in shops!
DKSG
proud owner
26-01-13, 16:47
That is how our property market works... If those expats all cheongster buy the property they are staying here, we would have got a bursted bubble long ago.
In my Office, locals buy properties, expats rent them. Though they cannot rent directly from their colleagues, but thats how local property owners work.
As long as the expats keep coming, as long as we move our so-called population (be it citizens, PRs or just CEOs, Country Chairmans, COOs) keeping growing, the property market is supported, price go up!
With the population WP, we are expected to grow till 7 million in next 10 years (I think - just my guess that they wont increase at too fast a speed), property market is supported.
But more importantly, commercial properties will be in shortage.
Look around, we keep building condos after condos in Orchard, Newton, etc areas, but if you own a shop in Lucky Plaza or whereever nearby, you will notice there is not a corresponding increase in shops!
DKSG
yes i agree that there is and will be a shortage of commercial props ...
do u think like i do ...that there is also a shortage of schools ?
i still think govt need to do something about this ... many districts dont have primary schools at all...
while we work in increase the population to 7 mio ... this aspect of the whole works is lacking
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