where is dtrax when you need him?
from Equaliser:
......If they aim for say the lowest target of 25K p.a. and assuming ONLY 10% of these buy a landed, it still amounts to 2500 purchases of landed PER YEAR. I do not know why u r so fixated on yr <2% yield. These new citizens are here to set up home. They are buying for stay NOT for rental whereas the converse is true for EP or PRs who are either in the mkt to rent or to purchase for investment.
my Bull shitting:
1) if 10% (2500) buy landed, then 90% (22500) buy non-landed.
2) do you have any statistic on how many landed transactions per year?
quick browsing manage to give this table:
http://www.iproperty.com.sg/news/455...on-at-a-glance
equaliser is right in saying that supply of new landed is limited, as can be seen from that link, resale outnumber new sale for landed.
although data is from 2007 january to august, if extrapolate, the total number of landed transactions is 5674 for the whole of 2007.
so 2500 transactions per year, is it like 44% of landed transactions by new citizens per year. is that a reasonable assumption to make?
then what about the 22500 citizens buying non-landed?
if extrapolate, the non-landed transactions for 2007 is 31743.
so 22500 (new citizens) out of 31743 transaction is 70%.
so effect of new citizens on non-landed transactions is bigger than effect of new citizens on landed transactions.
of course, i know all this is BS assumption and figures without hard data.
dtrax, where are you?