I have some questions for Mr. Hong Kong Property Analyst, can you be my "messenger" as well.
#1. ChannelNewsAsia on 27 February 2008 reported that "Last year, Singapore saw over 63,000 new PRs, an 11-per-cent increase from 2006; and the city-state also welcomed more than 17,000 new citizens, a 30-per-cent jump."
Every year, we have 63,000 + 17,000 = 80,000 new immigrants, that is not including foreigners who come here on employment pass (but not taking up citizenships or PRs).
What do you mean
"no demand for housing"? May I know where these 80,000 people are going to stay? Inside the canals?
In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.
http://www.channelnewsasia.com/stori...331492/1/.html
#2. ChannelNewsAsia reported on 10 August 2007 that Singapore's
"Financial services expanded by 17 per cent in the second quarter, up from 14 per cent growth in the first quarter, while the construction sector grew by 18 per cent, the strongest growth in almost 10 years. Growth in the manufacturing sector picked up pace to 8.3 per cent."
No matter how I calculate, I don't know how you arrived at the figure that "growth was 99% construction related."?
In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.
http://www.channelnewsasia.com/stori...293171/1/.html
#3. You said "The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market."
Then may I ask you what about this person called Jet Li?
Your Hong Kong magazine wrote "Actor Jet Li moved to Singapore last year for his daughters’ education, reported Hong Kong’s Next Magazine recently ... he bought a S$7mil (RM16.1mil) unit at nearby Ardmore Park condominium."
Is Jet Li a "senior executive" from some Multinational Company? Must luxury housing be only for "senior executives"?
Is Jet Li's purchase of Armore Park luxury condominium illegal? Since he is not a "senior executive"?
#4. Can you explain why our "projected growth of economy" is no good?
A MasterCard International survey showed that"Being often touted recently as the
next unexplored, potential-filled Asian emerging economy, Vietnam unsurprisingly registered, among the 13 nations surveyed, the highest score of 94.3 points in the MasterIndex of Consumer Confidence (MCC), which ranges from 0 to 100 points, with Taiwan posting the lowest at 29.7 points. Hong Kong came in second position with a score of 85.9 points, closely followed by China and Singapore, which posted 85.5 and 83.6 points, respectively."
http://news.cens.com/cens/html/en/ne...ner_22113.html
Singapore is ranked fourth, after Vietnam (94.3 points), Hong Kong (85.9 points), China (85.5 points) and Singapore (83.6 points).
Singapore is ranked 4th and just 2.3 points behind Hong Kong as the
next unexplored, potential-filled Asian emerging economy, why is that considered "no good"?
#4 (You've got two points #4 and this is the second one) You said "Non of these new inhabitants will be buying or renting condo's, especially in the high-end."
Then what about Dr. Sudhir Gupta, "Born in India, moved to Russia to get Ph.D. in agricultural chemistry. Started tire company in Moscow ... Escaped assassination attempt in Moscow 4 years ago; now shuttles between that city and Singapore, where he's a citizen.
http://www.forbes.com/lists/2006/79/...upta_AHUD.html
He bought a luxury bungalow at Binjai Park for $12.55 million and 22 apartments, including the 63rd-storey penthouse, in the second tower of The Sail @ Marina Bay condo for a total $31 million.
Aren't these properties considered "high end", can you define what is meant by "high end"?
#5. I don't understand your this statement at all
"Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities."
This statement totally confounds me so I need you to explain what you mean?
#6. Why do you say that Singapore lacks "real, transparent, objective information available"?
According to Jones Lang LaSelle report on
Global Real Estates Transparency, "Highly Transparent countries for the first time in 2006 are Hong Kong, Sweden, France and Singapore, each having jumped to Tier 1 from Tier 2 since the 2004 survey."
http://www.joneslanglasalle.com/en-G...kets+Trans.htm
Singapore and Hong Kong both have been promoted from Tier 2 to Tier 1 as "Highly Transparent Countries", together with Sweden and France.
So can you please explain your statement
"There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market."?
#7. You predicted that "Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy."
I want to ask, if you are so good at predicting, then last June (just before the sub-prime) did you go short-sell USD100 billion worth of US stock futures contracts through leveraged margin-trading account? Especially short Bear-Stearns shares, then you would be a multi-billionaire by now.
Then why are you still working as a "Asia property analyst for a small successful private investment bank."?