Will Singapore property market ever corrects?

[yowetan]

I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.

Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.

In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.

With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?

[Allthepies]

I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.

Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.

In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.

With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?

what i know is that it will never cheong again (based on government stance unless voters support them to change), at most grow very very slowly. so what's the point in investing in properties even if they crashes? properties r for staying nowadays.

[FH99]

If you look at the household credit build up, you should know the answer.

[yowetan]

If you look at the household credit build up, you should know the answer.

Could you elaborate further? I do not understand the household credit building up definition/notion?

[wt_know]

unlike the american and european, sporean & pr save a lot.
with that much of cash on hand, everyone is eager to invest in property

Could you elaborate further? I do not understand the household credit building up definition/notion?

[yowetan]

unlike the american and european, sporean & pr save a lot. with that much of cash on hand, everyone is eager to invest in property.

Do Singaporean family has the capacity to save with high CPI and inflation nowadays?

PR do have the advantage though.

[wt_know]

actually, sporean has the upper hand especially who had sold their flat to pr with high cov and huge sum in cpf oa ... especially those move back to live with parent for 1-2 years and hoot another property

Do Singaporean family has the capacity to save with high CPI and inflation nowadays?

PR do have the advantage though.

[Montaigne]

Do Singaporean family has the capacity to save with high CPI and inflation nowadays?

PR do have the advantage though.

You will be surprised how cash rich sporeans are. Alot I know have ready cash of more than 200-300k waiting by sidelines. All youngsters below 35 somemore.

[yowetan]

You will be surprised how cash rich sporeans are. Alot I know have ready cash of more than 200-300k waiting by sidelines. All youngsters below 35 somemore.

I am surprise now. Do they own anything property now?

[DC33_2008]

Never plays with own home. Not fair to parents and family and definitely not worth it.

actually, sporean has the upper hand especially who had sold their flat to pr with high cov and huge sum in cpf oa ... especially those move back to live with parent for 1-2 years and hoot another property

[Douk]

This is the million dollar question that was asked at peak of every property cycle. Those who didn't believe price would correct are no longer here to answer this question.

I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.

Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.

In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.

With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?

[Arcachon]

http://www.singstat.gov.sg/pubn/reference/sif2011.pdf

Don't understand, with so many buy buy buy, why only increase by 9 billion.

Mortgage Loans 118,308.5 130,173.2 139,990.9

[ikan bilis]

http://www.singstat.gov.sg/pubn/reference/sif2011.pdf

Don't understand, with so many buy buy buy, why only increase by 9 billion.

Mortgage Loans 118,308.5 130,173.2 139,990.9

me surprise to see the liabilities so low, ~15% of assets value... quite hard for me to believe...

[Douk]

Do Singaporean family has the capacity to save with high CPI and inflation nowadays?

PR do have the advantage though.

As long as they did not over commit on property and luxury items.

[Arcachon]

[peterng8]

I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.

Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.

In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.

With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?

I think if KBW is to give his view on your concern in his blog..it will become the most VIEW blog in Singapore within a day...

[yowetan]

I think if KBW is to give his view on your concern in his blog..it will become the most VIEW blog in Singapore within a day...

Could you call/page Mr. KBW to start a blog addressing my concern?

TIA.

[ikan bilis]

how to interpret ??... does that mean ??... arh... huat ah!!... household deposit/currecy about 700bil, HDB+Pte also about 700Bil... will not have crash... properties still got room to cheong ??...

[Arcachon]

http://www.straitstimes.com/Free/Sto...ry_251697.html

S'pore now has 77,000 millionaires in June 26, 2008. If 1 millionaires bought one property then there should have 77 K Private property.

[peterng8]

HA ha...I think he has a blog now, but not addressing yr recent highlighted concern as of today... Your english is good, maybe u could write to ST forum or TODAY as I think that alot of people are interested in the property price Correction part(I dont hope for crash though) ..this may generate some response from various parties to comment on it...

[Arcachon]

We have 247,052 million getting super high interest in the bank in 2010. Wonder how long the money can stay in the bank with this super high interest rate.

[DC33_2008]

There are 70000 landed properties in Singapore and that makes about 70000 millionaires.

http://www.straitstimes.com/Free/Sto...ry_251697.html

S'pore now has 77,000 millionaires in June 26, 2008. If 1 millionaires bought one property then there should have 77 K Private property.

[Arcachon]

http://www.singstat.gov.sg/pubn/refe...nstruction.pdf

[peterng8]

We have 247,052 million getting super high interest in the bank in 2010. Wonder how long the money can stay in the bank with this super high interest rate.

How to tell that this amount is on the hands of how many household or individuals? top 5% or 10% or 20% or ??? interesting to know....

[Arcachon]

How to tell that this amount is on the hands of how many household or individuals? top 5% or 10% or 20% or ??? interesting to know....

The gov. know, that is why have CM1, CM2, CM3, CM4, CM5 and CM6 coming.....

[peterng8]

The gov. know, that is why have CM1, CM2, CM3, CM4, CM5 and CM6 coming.....

True true..superficially hard to judge asset rich = cash rich, also hard to tell the mammoth cash that are in bank(as shown in the report readings) are evenly distributed as savings of those survey or is it belong to the cream of the crop (top 10%) only...

[GForce]

Hi Yowetan

If u observe the property cycles since 1996 u will be able to see that property cycles have ups n downs. No such thing as up all the way or vice versa.
Remember SARS period or even 911, somehow properties r cheap but nobody cheong leh?

Properties r very illiquid, when u buy also need some guts coz must have holding power when bad times come n negative equity happens.

End of the day, winners r those who buy n can hold or those who r patient to enter the right time.

Keyword for u n me is patience will pay off end of the day!
IMHO, will wait for the ample supply to kick in b4 taking the plunge, now not the right time to enter leh! As the saying goes, Buy when there is fear, sell when yr target is met!

[roly8]

If you look at the household credit build up, you should know the answer.

blowing the bubble bigbig

[jencrs]

Wah lau yowetan, at least u have bought something from the govt, sure can make money, many ppl don't even have the chance ie the sandwich class.

Don't compare with other ppl so much la. Don't forget this is property forum, many of these gurus here already have money and properties. Want to compare with them, surely feel smaller. I don't think the more vocal people here represent the average sporean. So don't overly stress yourself la, although I understand how u feel, because I also feel it reading the stuff here haha.

Lastly, property will have to follow up and down cycles, due to macro factors, beyond the control of the govt. The most the govt can do, eg thru the CMs, is to limit the extremes so ppl don't die jialat jialat, banks don't close shop etc etc.

Since such cyclical opportunities are limited, best we can do is save and be ready to whack when we feel the timing is correct.

[azeoprop]

The problem is the "right" time to buy is always from a hindsight.

It will be a time when everybody including you have no interest in properties and owning one will be more of a liability than an asset. The economic environment will be very negative, STI plunge 5% daily, many companies winding up, job losses across board. Will you put all your hard earned savings into property during those times?