Originally Posted by
Unregistered
Let me explain.
First, look at how many new condos will be coming up in the next five years: 31,000.
Next, look at how many new immigrants we are going to get in the next five year:
ChannelNewsAsia reproted on 27 February 2008 "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."
In one year, we are getting 63,000 new PRs plus 17,000 new citizens: total 80,000.
In five years, we will get 400,000 new immigrants.
I don't know how many of the 400,000 new immigrants in the next five years will go after the 31,000 new private apartments in the next five years.
Not all of them are in the market for private apartments, that's why now the HDB is "overwhelmed" everytime they launch a new design, build & sell scheme (DBSS).
Now you should know why although the price is firm, it's still a good deal? Because once the subprime blows over, prices are going to explode through the roof again.