Hello Sonu,
The statement you've made really is an assertion. Meaning, it is a statement mades via intepretation of facts of the observer. No two consultants will ever give you the same answer, BUT, what I can do, is let you make your own intepretations..
Property essentially is driven by people movement.
Thus the facts to consider are:
1. Is the overall headcount (local and foreign) in Singapore expected to rise or fall? Given that our govenment has expressedly stated that we will be bringing in more foreigners to boost the workforce.
2. Are property (asset) prices on the whole really "high" compared to the major financial centers in the whole of Asia? Namely, Beijing, Shanghai, Tokyo, Hongkong?
3. Relating to question 2, "Are there measures put in place to regulate the movement of global equity?" If no, then you will find that much of property aquisitions are made by foreigners.
4. Real asset growth. Property prices are tied very closely to the stock market, which are tied to GDP growth. Thus with GDP growth expected in the double digits, can there really be an expectation that prices are going to fall?
5. Even during the property lull, there are still property acquistions occuring. Have you wondered who is doing the acquistions? AND more importantly, is there something that they know that the rest of us don't?
Some food for thought when you'd ponder the direction of the market in the near future!
Your Singapore Condo Specialist Team,
Mervin Tang
Senior Marketing Associates
Developer's Appointed Agency
Huttons Real Estate Group
Call Today:
(+65) 9184 0208
Website: http://www.sgcondospecialist.com
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