Property run-up may end in 2010
http://news.asiaone.com/News/the%2BS...02-165049.html
Property run-up may end in 2010: UK group http://news.asiaone.com/a1media/site/common/blank.gifhttp://news.asiaone.com/a1media/site/common/blank.gifWed, Sep 02, 2009
The Straits Times http://news.asiaone.com/a1media/site/common/blank.gif
By Joyce Teo
THE run-up in Singapore's private home prices may fizzle out next year, as several obstacles are still impeding global growth momentum.
That is the view of London-headquartered Royal Institution of Chartered Surveyors (Rics), which represents and regulates property professionals and surveyors.
It issued a report on Monday
concluding that the sharp residential market rebound here may peter out. It cited higher unemployment in Singapore as a potential risk factor that could undermine the property rebound here.
Must be because of those $8k pm month salaries, which many are getting without the skills or productivity to back their salaries, making Singapore very uncompetitive.
HDB resale price will rise
Obviously, Mr Mah Bow Tan is pretty bullish about price of HDB resale flats:
HDB resale flat prices - already at record high levels - are likely to continue rising this year, said National Development Minister Mah Bow Tan on Wednesday.
'The flat prices would probably go up ... by 1 per cent, 2 per cent,' said Mr Mah. 'It will just keep on going up if the economy recovers as people expect, and if confidence returns but affordability will always be there.'
HDB resale prices rose 1.4 per cent in the second quarter to a record high.
Resale flat prices go up in tandem with a very strong market, Mr Mah told reporters at the launch of the final skybridge at The Pinnacle@Duxton on Wednesday.
'We subsidised you when you buy and we increased the value of your flat when you live in it and... facilitate you to monetise it when you grow old. This is the best form of investment and welfare for the people,' said the minister.