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Thread: Still bullish on Singapore property

  1. #1
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    Default Still bullish on Singapore property

    Published April 5, 2008

    Still bullish on Singapore property


    DESPITE the US subprime crisis, which will have a cyclical impact, Liew Mun Leong remains bullish on Singapore's property market in the medium term.

    'Main street America is suffering from the sins and mistakes of Wall Street,' he says. 'And when main street gets hit, that will affect Asia, we can't run away from it.'

    However, Singapore's property market has some strong underpinnings, he maintains. Most importantly, the drivers of Singapore's property market have changed in recent years. 'The rise in property prices since 2002 is no longer due to domestic policy changes such as the liberalisation of CPF and the HDB sub-sale policy.

    'It is driven by the remaking of Singapore. Singapore as a global city, as a gateway to Asia, the integrated resorts, plus the displacement demand from en-bloc sales.'

    The change in the number and profile of foreign buyers is also notable, he points out. 'In the past foreign buyers were mainly from Malaysia and Indonesia. But now, there are big buyers from at least 12 countries.'

    The proportion of foreign buyers for private properties has also risen from 13.7 percent of the total in 1996 to 25 per cent in 1997. And the number of foreign professionals coming to live in Singapore has tripled over that period, as has foreign direct investment.

    At the same time, the affordability of private residential properties as measured by mortgage payments as a percentage of household income has improved, going from around 46 per cent to 36 per cent.

    And then Mr. Liew points to the big picture: 'Singapore has 700 sq km, with 4.5 million people. The population is projected to grow to more than 6 million, but the city cannot grow. If we reclaim another 11 per cent we'll be in international waters already.'

    'Another point, I tell foreigners. Compare putting $5 million in a house in Singapore with putting $5 million in a house in, say, Bangkok or Jakarta. In Singapore, the government provides so much support in the form of infrastructure. What infrastructure support would you get in Bangkok or Jakarta? This is an important issue when you buy property. Investors realise this.

    'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'

  2. #2
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by mr funny
    Published April 5, 2008

    Still bullish on Singapore property


    DESPITE the US subprime crisis, which will have a cyclical impact, Liew Mun Leong remains bullish on Singapore's property market in the medium term.

    'Main street America is suffering from the sins and mistakes of Wall Street,' he says. 'And when main street gets hit, that will affect Asia, we can't run away from it.'

    However, Singapore's property market has some strong underpinnings, he maintains. Most importantly, the drivers of Singapore's property market have changed in recent years. 'The rise in property prices since 2002 is no longer due to domestic policy changes such as the liberalisation of CPF and the HDB sub-sale policy.

    'It is driven by the remaking of Singapore. Singapore as a global city, as a gateway to Asia, the integrated resorts, plus the displacement demand from en-bloc sales.'

    The change in the number and profile of foreign buyers is also notable, he points out. 'In the past foreign buyers were mainly from Malaysia and Indonesia. But now, there are big buyers from at least 12 countries.'

    The proportion of foreign buyers for private properties has also risen from 13.7 percent of the total in 1996 to 25 per cent in 1997. And the number of foreign professionals coming to live in Singapore has tripled over that period, as has foreign direct investment.

    At the same time, the affordability of private residential properties as measured by mortgage payments as a percentage of household income has improved, going from around 46 per cent to 36 per cent.

    And then Mr. Liew points to the big picture: 'Singapore has 700 sq km, with 4.5 million people. The population is projected to grow to more than 6 million, but the city cannot grow. If we reclaim another 11 per cent we'll be in international waters already.'

    'Another point, I tell foreigners. Compare putting $5 million in a house in Singapore with putting $5 million in a house in, say, Bangkok or Jakarta. In Singapore, the government provides so much support in the form of infrastructure. What infrastructure support would you get in Bangkok or Jakarta? This is an important issue when you buy property. Investors realise this.

    'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'
    This is vintage Liew Mun Leong. Singapore as a evolving Global City is getting so attractive that I am holding on to all my investment properties for another 5-10 and maybe 15 years to realise the true potential from this amazing transformation.

  3. #3
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    MASSIVE OVERSUPPLY. GOOD NEWS. PRICES WOULD FALL TO REALISTIC LEVELS.

  4. #4
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    first class sour grapes in denial despite real changes in our city state transformation.

  5. #5
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by mr funny
    Published April 5, 2008

    JURONG LAKE DISTRICT

    Mah disagrees with suggestions on land sales, deferred payment scheme


    NATIONAL Development Minister Mah Bow Tan yesterday disagreed with suggestions by property tycoon Kwek Leng Beng on the need for the government to review its first-half 2008 land sales programme and rethink its decision to scrap the deferred payment scheme.

    Mr Mah said the government can be nimble on state land sales because the programme is reviewed every six months, depending on changes in the market.

    But the H1 2008 programme will not be changed midstream, he said. 'We should be careful of knee-jerk reactions. You can't adjust it just because something is happening yesterday and then we change things today. We've got to take a longer-term view.'

    Mr Mah was speaking at a media briefing after he delivered the keynote address at Urban Redevelopment Authority's Corporate Plan seminar at Grand Copthorne Waterfront Hotel.

    In an interview published by BT this week, Mr Kwek had urged the government to review its H1 2008 land sale programme, which was fixed last year when the property market was buoyant compared with today.

    On the decision announced in October last year to scrap the deferred payment scheme, Mr Mah said yesterday it was carefully considered, taken 'after a lot of thought, deliberation'.

    'The objective was two-fold,' he said. 'One, to remove excessive speculation from the market. And two, to make sure there is financial prudence - that people make decisions and don't over-commit themselves.

    'These are two very important objectives and they are still relevant today - in fact, probably more so in today's kind of market. I don't see any need for us to change our decision on that.'

    Mr Kwek had suggested the deferred payment scheme could be revived, but this time with a higher initial payment of 30 per cent instead of 20 per cent previously. He also said that if a developer wants to extend a deferred payment scheme to a buyer, perhaps the developer's bank might be in a better position to assess viability, while keeping an eye on prudence.

    Mr Kwek also made a suggestion he said could make housing more affordable for young Singaporeans, including singles. The government could build more public housing units and lease them to young first-time buyers with an option to buy the flats within 10 years at fixed prices, he said.

    Responding yesterday, Mr Mah said he disagreed with the premise that young couples cannot afford to buy an HDB flat.

    'The average amount of money they need to put up for monthly mortgage payments is well within their means, something like 20 per cent. This is quite affordable,' he said.

    'If you were to rent, they will probably be paying as much, if not more, in rental, than to buy the flat. It doesn't make sense to rent when you can buy using your CPF. You rent, you can't use your CPF.

    'When you buy, you actually buy a place you can call your own. It's an investment. When you rent, it's not yours.

    'Our home ownership policy with all the generous housing subsidies that we have given actually allows most Singaporeans, young couples, to be able to buy their own homes.

    'If you look at the numbers, you'll find that suggestion (by Mr Kwek) does not quite make sense.'
    The minister is right. Else it will just be a bubble forming.

  6. #6
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'

    Liew Mun Leong

  7. #7
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    This is vintage Liew Mun Leong. Singapore as a evolving Global City is getting so attractive that I am holding on to all my investment properties for another 5-10 and maybe 15 years to realise the true potential from this amazing transformation.
    I disagree with you. Why should your investment timeframe be limited to only 10-15 years?

    Properties should only be bought and never sold, and passed from one generation to another, as it will become more valuable over time.

    Where today can you buy bungalows for $50,000? Which was possible during our grandparents' generation.

    If you sell off your properties after 15 years, what will happen to your children?

    Your children will end up as the future sour grapes, while the sour grapes' children could end up as the future property owners.

  8. #8
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    I disagree with you. Why should your investment timeframe be limited to only 10-15 years?

    Properties should only be bought and never sold, and passed from one generation to another, as it will become more valuable over time.

    Where today can you buy bungalows for $50,000? Which was possible during our grandparents' generation.

    If you sell off your properties after 15 years, what will happen to your children?

    Your children will end up as the future sour grapes, while the sour grapes' children could end up as the future property owners.
    Look at Tampines hub lah. Give me a break. One good thing it will do is bring down property prices due to excess supply.

  9. #9
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by mr funny
    April 5, 2008

    HDB reviewing application process


    THE Housing Board is in the process of reviewing its current application process, National Development Minister Mah Bow Tan disclosed yesterday.

    This follows recent public concerns that the thousands of applications that pour in for an HDB project bear little relation to the actual take-up rate of flats.

    HDB's latest condo-like flats, City View @ Boon Keng, for example, sold only 250 or so out of 714 units, despite receiving 3,500 applications.

    Eligible buyers pay $10 to enter a ballot for HDB's sales exercises. This assigns them a queue number to select a flat in a particular sales project.

    Mr Mah acknowledged it was frustrating for some couples in the queue - who might have missed out on selecting a flat because of the high numbers - and said there was a need to address it.

    'I've asked HDB to study this to discourage people from giving up their flats, or chance, so easily.'

    The idea is to have a queue that ensures that when buyers get to the front, they book the flat, said Mr Mah.

    'That will be fair to people in the queue, and good for HDB, to get some certainty about the supply and demand situation.'

    More details on the review will come at a later date, he said.

    JESSICA CHEAM
    Still no takers!

  10. #10
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    I disagree with you. Why should your investment timeframe be limited to only 10-15 years?

    Properties should only be bought and never sold, and passed from one generation to another, as it will become more valuable over time.

    Where today can you buy bungalows for $50,000? Which was possible during our grandparents' generation.

    If you sell off your properties after 15 years, what will happen to your children?

    Your children will end up as the future sour grapes, while the sour grapes' children could end up as the future property owners.
    Moron, If everybody hold properties and dun sell, then wat is value?
    A $50,000.00 bungalow is also A $50,000.00 bungalow now. moron.

    Also, u dun sell now, later ur children will start selling the moment u died.
    ur children will then enjoy himself, moron

  11. #11
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Moron, If everybody hold properties and dun sell, then wat is value?
    A $50,000.00 bungalow is also A $50,000.00 bungalow now. moron.

    Also, u dun sell now, later ur children will start selling the moment u died.
    ur children will then enjoy himself, moron
    No point screaming moron. Market going down. So why scream now. We will think of it when market recovers.

  12. #12
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    No point screaming moron. Market going down. So why scream now. We will think of it when market recovers.
    Whu scream? Moron scream, u are the moron. When market recovered, u should be either dead or IMH liao. stupid

  13. #13
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Dearer Home Loans For Halifax Customers
    Updated:15:39, Friday April 04, 2008

    In a further sign of the global economic slowdown, Britain's biggest mortgage lender - the Halifax - has announced plans to charge more for home loans.
    Under the changes customers with deposits of at least 25% will typically pay 0.1% less.

    But customers with smaller deposits will be hit with higher rates of interest.

    Someone borrowing between 90% and 95% of their home's value will pay up to 0.35% more than now.

    Those borrowing between 10% and 24.9% will pay around 1.4% more.

    Halifax says it will no longer advance mortgages of up to 97% of a property's value.

    The new tiers will apply to the group's entire mortgage range, with its current 136 deals being replaced with 201 new ones.

    Advertisement

    It is also launching a new range of loans specifically aimed at first-time buyers, including a five-year fixed-rate deal of 5.69%.

    Halifax said it had introduced the changes in response to market conditions and to reward people for being prudent.

    The changes will also apply to Bank of Scotland and Intelligent Finance.

    They come at the end of a week that has seen the number of different mortgage products available fall by 13%.

    Lenders including the Co-operative Bank have withdrawn deals that were attracting too much business, while others have left the market altogether.

    They blame the global credit squeeze which has made borrowing a lot more difficult.

  14. #14
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by mr funny
    Published April 5, 2008

    Still bullish on Singapore property


    'Another point, I tell foreigners. Compare putting $5 million in a house in Singapore with putting $5 million in a house in, say, Bangkok or Jakarta. In Singapore, the government provides so much support in the form of infrastructure. What infrastructure support would you get in Bangkok or Jakarta? This is an important issue when you buy property. Investors realise this.

    'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'

    Singapore may have limited land supply, but the air space supply is unlimited.

    Do houses in these countries cost so much? With S$5m, one can almost buy a whole island! Can build own infrastructure, etc., etc. But, for a S$5m house in Singapore, should deflation set in, still can see at least S$3m, however in other countries, may see nothing back if there is unrest. So, S$2m for the stability, cheap lah.

  15. #15
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    I believe our ppty upside potential is still immense. Just simply compared with French, for exmple. A wooden house in Saint-Denis, outside Paris, is already going for 150k euros (S$330k), not incl the land it sits on. That's a house for the lowest income family in French.

    That makes our ppty prices cost a peanut, literally.

  16. #16
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    There are indeed no reason for not being bullish.

    US is facing the greatest exodus of their ppl in history right now. Many are dumping their houses and migrate to Asia and Australia. Singapore is one of their top destinations. They come and buy houses. There are no better time for Singapore to reap the world top talent massively.

    I read a news yesterday that Australia rent is projected to jump up by another 50% this year. But, I don't know how much Singapore rental will increase this year. Any comment?

  17. #17
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    There are indeed no reason for not being bullish.

    US is facing the greatest exodus of their ppl in history right now. Many are dumping their houses and migrate to Asia and Australia. Singapore is one of their top destinations. They come and buy houses. There are no better time for Singapore to reap the world top talent massively.

    I read a news yesterday that Australia rent is projected to jump up by another 50% this year. But, I don't know how much Singapore rental will increase this year. Any comment?
    You must be dumb. After dumping their property, u think many people still got moneys? I think u must be dumped also.

  18. #18
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Oh any comments on this observation from the expats forum? Seems a knowledgeable chap. Thanks buddy for educating us. I will delay my buying.


    Quote Originally Posted by Unregistered
    I Re: Apartment sales slowing?
    « Reply #389 on: 18 March 2008, 23:13:57 PM » Quote

    --------------------------------------------------------------------------------
    Quote from: Kubes.SG on 18 March 2008, 23:04:49 PM

    The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    My points are the following:

    Singapore prime property is grossly overvalued, by historical and global standards - (don't look at the 1996 peak as the benchmark, look at the average of the last 20 years)

    Singapore's property cycle is 1-2 years of boom, followed by 1-2 years of decline then 2-5 years of stagnation

    About 30,000 new prime properties are booked to be completed by 2010, exceeding demand

    Possibly 50% of those were purchased by investors/speculators, many though DPS

    DPS entirely skewed the market by allowing speculators/developers/realtors to rapidly pump-up prices with very small financial commitment (2%-20%)

    Many of the speculators never planned to own the apartments they bought, but to flip them quickly

    With negagitve equity and being highly leverage speculators will be under massive stress. Some will walk, some will sell. Further reducing market prices and sentiment.

    Singapore's leadership are publicly bearish on the prime property market declaring prices will decline

    Sales of prime properties have collapsed over the in Jan and Feb to the lowest levels in 5 years (BT and ST this week)

    Market sentiment is at panic levels. External negative economic pressures and credit crunch is underway now in all developed economies - strong and weak. These will impact Singapore too.

    Asia has not "de-coupled" its economies from the US or WE. Singapore's exports indirectly still go mainly to the US. Consumption is till very low in Chinda. With recession in the US the reduced demand will still hit Singapre. Chinda owe Singapore nothing.

    Singapore's 2007Q4 GDP shrank 4.8% I fully expect that the SG.gov is currently pumping the local economy hard to avoid a technical recession.

    Singapore's productivity rates in 2007 declined by 0.9% - the greatest decline on record

    Latest population target is 5.5mln by 2040, or about 10,000 HH per year.

    Given current mix that means about 2,000 prime properties required per year

    Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals without correction

    Adam Smith's invisible hand of capitalism will play an influencing role in equalizing the balance




  19. #19
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Oh any comments on this observation from the expats forum? Seems a knowledgeable chap. Thanks buddy for educating us. I will delay my buying.

    all these are pure rubbish.
    Consider govt throw in all the infrastructure cost, almost $100Bil to re-make Spore, all these are to appreciate your property in long term.
    Plus all the high rental yield you are getting, low loan rate, high material cost, property is the best investment in long term in Spore.
    That guys in expat forum if he is not happy with the rental, go Jakarta or Bangkok & work tomorrow, we don't need such expat in Spore.
    Ler his famiy worry of their security day & night, let their kids have that kind of education standard & system there, hygiene & environment of their water, air & pollution, medical care when they have illness, corruption govt whenthey want to have their permit or visa or tax done, language, transport convenience, global exposure, opportunity, advanced & modernised......
    ask him to leave & move on to these country tomorrow.

  20. #20
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Singapore may have limited land supply, but the air space supply is unlimited.

    Do houses in these countries cost so much? With S$5m, one can almost buy a whole island! Can build own infrastructure, etc., etc. But, for a S$5m house in Singapore, should deflation set in, still can see at least S$3m, however in other countries, may see nothing back if there is unrest. So, S$2m for the stability, cheap lah.
    Why BMW cost $200K+, Mercedes cost $200K-$500K while they cost only 1/3 of the price in 1st world countries (US, AU, NZ etc) yet our roads are flooded with so many of them. Why?

  21. #21
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Why BMW cost $200K+, Mercedes cost $200K-$500K while they cost only 1/3 of the price in 1st world countries (US, AU, NZ etc) yet our roads are flooded with so many of them. Why?

    we sold almost 200 Bentley, Ferrari, Porsche, Mesaratti & Lambogini in last 3 months.
    If in next 24 months, we can sell another 2000 of these cars, each one cost >$700k, that is the future of spore.

  22. #22
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Why BMW cost $200K+, Mercedes cost $200K-$500K while they cost only 1/3 of the price in 1st world countries (US, AU, NZ etc) yet our roads are flooded with so many of them. Why?
    Yeah...why huh ??

  23. #23
    evelyn (ex) owner Guest

    Default Re: Still bullish on Singapore property

    i believe in the singapore govt's ability to manage the economy thru rough waters.i believe in the long term story of singapore. i believe in the remaking of singapore am heavily invested in property myself.

    unfortunately because of our size, our economy is very susceptible to the vagaries of the world and i'm afraid the turmoil that is going on around the world will affect our economy and asset prices.

    there has not been a time when the singapore stock market fell alot w/o a corresponding fall in property. eg 1973, 1985, 1997, 2000, ...

    so while i believe in our economy long term, i am bearish stocks & property short to medium term. i see property falling half of stocks. so if the STI falls 40% (the min in every past correction) property will fall at least 20%.

  24. #24
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by evelyn (ex) owner
    i believe in the singapore govt's ability to manage the economy thru rough waters.i believe in the long term story of singapore. i believe in the remaking of singapore am heavily invested in property myself.

    unfortunately because of our size, our economy is very susceptible to the vagaries of the world and i'm afraid the turmoil that is going on around the world will affect our economy and asset prices.

    there has not been a time when the singapore stock market fell alot w/o a corresponding fall in property. eg 1973, 1985, 1997, 2000, ...

    so while i believe in our economy long term, i am bearish stocks & property short to medium term. i see property falling half of stocks. so if the STI falls 40% (the min in every past correction) property will fall at least 20%.

    what 40%?
    DOW is 10% below historical high now.
    STI is 18% below historical high now, may have a minor correction soon. In May, STI may be 5-10% below historical high.
    Let see in 1 month time.

  25. #25
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote from Post 18:

    Quote:The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    Unquote

    I am not FT but I had the same feeling. Just like I had with the dot.com concept years ago. No basis to support claims. Soon it will be doggone.

  26. #26
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Quote from Post 18:

    Quote:The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    Unquote

    I am not FT but I had the same feeling. Just like I had with the dot.com concept years ago. No basis to support claims. Soon it will be doggone.


    data as below,


    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.

    Link: 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.

    Link: 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."
    Link: 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.

    Link: 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."

    Link: 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."?

  27. #27
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Yeah...why huh ??
    Cos' they are quite affordable lah.

  28. #28
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by The Straits Times

    Jurong to transform from industrial zone to Lake District
    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008


    An impression of Jurong Lake District in the future. -- Photo: URA


    Lakeside, will provide attractions with an education element to attract families. -- Photo: URA

    Mention Jurong now and it conjures images of industrial land and sleepy suburban homes - but within the next decade, this district will get a stunning makeover that will transform it into Singapore's only lakeside destination to live, play and work.
    The blueprint for Jurong - to be re-branded Jurong Lake District - was unveiled by National Development Minister Mah Bow Tan on Friday at the Urban Redevelopment Authority's (URA) annual seminar for industry players.

    The ambitious plan, to be developed over the next 10 to 15 years, involves enlarging waterways, building 1,000 new private homes, 2,800 hotel rooms and adding 500,000 sq m of office space. New tourist attractions, public parks and water activities will also add sparkle to the rejuvenated town.

    Jurong Lake District will consist of two complementary precincts - Jurong Gateway and Lakeside - around the Jurong East MRT Station and Jurong Lake in the west region of Singapore.

    New homes, offices and retail space will sprout around the Jurong East MRT Station, to be known as Jurong Gateway, making it an attractive commercial hub serving the west region, outside the city centre.

    Next to it, a unique leisure destination, Lakeside, will provide attractions with an education element to attract families.

    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses.

    It will be the biggest commercial hub outside the city centre. New waterways and pedestrian linkages will provide seamless connections between the two precincts.

    An integrated network of pedestrian walkways between buildings and public facilities will also be created. New landscaped open spaces and park connectors at the street-level and skyrise greenery in buildings will add to the already lush and scenic areas.

    Speaking to a 500-strong audience, Mr Mah said Jurong East is perceived by many Singaporeans as a suburban residential and industrial area 'located far away from the citiy centre'. 'However, Jurong is a gem that has yet to be uncovered and refined,' he said.

    URA's chief executive Mrs Cheong Koon Hean added: 'Jurong Gateway and Lakeside are precious gems which offer exciting opportunities for the development of leisure attractions and the biggest commercial hub outside the city centre.'

    'To realise this vision, the planners have developed strategies that capitalise on the wonderful assets these areas have. These include building upon the strategic location of Jurong Gateway which is well served by road and rail, and in the midst of a large population and customer catchment.

    'The lake and its greenery are also unique features which can be enhanced. We would like to bring about a transformed image for this area. The Jurong Lake District will become a much sought after lakeside destination for business and leisure.'

    The total potential area for development is 360 ha, close to the size of Marina Bay. The existing Chinese and Japanese Gardens will have added new facilities and activities to make them more attractive for both residents and tourists.

    URA said all the attractions around the Jurong Lake will be developed with 'a sensitive approach to the surrounding environment and natural greenery'.


    Site Plan Of Jurong Lake District


    Jurong Lake DIstrict In The Future

    Blueprint for Jurong Lake District unveiled
    Jurong Gateway: Biggest commercial hub outside the city




    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses. It will be the biggest commercial hub outside the city centre.

    Jurong Gateway is one of the three regional centres identified under the Concept Plan 1991, as part of a decentralisation strategy to sustain Singapore's growth. While Marina Bay and the city remain as the main commercial centres, new commercial hubs like Jurong Gateway will also be developed outside the city centre to provide more choices of attractive business locations and bring jobs closer to homes. The other two regional centres are Tampines and Woodlands.

    Jurong Gateway offers a highly attractive location outside the Central Business District for company headquarters, business services as well as companies in the science and technology sectors. Companies that set up their offices at Jurong Gateway will be able to:
    - gain ready access to a large labour and customer pool from more than one million residents in the surrounding towns of Clementi, Bukit Batok, Jurong East and Jurong West.

    - enjoy the close proximity to a substantial cluster of multinational and global businesses of more than 3,000 companies around the International Business Park and the Jurong and Tuas Industrial Estates.

    - tap on a large talent pool from the many surrounding tertiary institutions and research hubs like the Nanyang Technological University, National University of Singapore, One-North and the Science Park 11 Jurong Gateway is already a major transport hub.

    The Jurong East MRT station is the interchange station for the East-West and North-South MRT lines. It is well served by three MRT stations and a bus interchange. Jurong Gateway is also well connected to the rest of the island by two major expressways. It is only about 20 minutes away from the city centre by car or train and just 15 minutes to the Second Link.

    More new spaces to come

    With more than 50 ha of vacant land available for development, Jurong Gateway will provide about 750,000 sq m of commercial space, more than two and a half times the size of Tampines Regional Centre today.

    The 750,000 sq m of commercial space consist of:
    - 500,000 sq m of office space and

    - 250,000 sq m of retail, food & beverage and entertainment space.

    About 2,800 hotel rooms will also be introduced at the fringe of Jurong Gateway, next to Lakeside, to meet the increasing demand for hotel rooms and to cater to the new leisure attractions and businesses that will be introduced around Jurong Lake and Jurong Gateway.

    In addition to the commercial space, at least 1,000 new homes will be added around the Jurong East MRT station, providing more opportunities to live and work in the area.

    Seamless connections, more greenery

    Singaporeans and visitors can look forward to seamless connections and more greenery at Jurong Gateway.

    From Jurong East MRT station, pedestrians can walk conveniently and comfortably to most developments and public facilities around the area through an extensive network of walkways. They can also stroll to attractions at Jurong Lake area through a new pedestrian walkway.

    There will be an experience of lush greenery with new landscaped open spaces and park connectors introduced at the street-level. Skyrise and rooftop greenery will also be encouraged on many of the buildings in the area.

    Key buildings will have scenic views of the lake. For example, buildings around the Jurong East MRT station will step down towards the lake, allowing most developments to have panoramic views of the lake.

    Lakeside: New waterfront playground

    Jurong Lake and the area around it, known as Lakeside, is the other area in the Jurong Lake District. Spread over 220 ha of land and 70 ha of water, Lakeside is envisaged to be developed into a major leisure destination for Singaporeans and tourists.

    The attractions at Jurong Lake will be differentiated from others located in Marina Bay, Southern Waterfront and Mandai.

    Singaporeans can look forward to enjoy greater access to the lake with additional green spaces and new attractions around the lake for the whole family.

    Bringing the lake closer

    There will be greater access to the lake from Jurong Gateway. One idea is to create new waterways to bring the experience of the lake closer to the main commercial hub. Another idea is to create a landscaped walkway from Jurong Gateway to the Lakeside.

    New green spaces, better access to the lake

    A new public park will be developed at the western edge of Jurong Lake, next to Lakeside MRT station. The waterfront promenade along Jurong Lake will be enhanced as well, making it easier and more pleasant for residents and visitors to enjoy breathtaking views of the lake.

    New water activities like kayaking and dragon-boating will be introduced in the lake by the end of 2008 as part of Public Utilities Board (PUB)'s Active Beautiful Clean programme. PUB will also be implementing more public amenities such as boardwalks, fishing points, wetlands and water features at selected stretches of the lake by the end of 2009 to allow people to enjoy more of the lake.

    New attractions around the lake

    Land is available for four to five attractions around the lake catering to families with young children. Possible attractions could be those with edutainment theme or nature-based attractions leveraging on the lake, or attractions with hotels, food & beverage and retail uses.

    They will complement the attractions that are already in Jurong, for example, the Jurong Bird Park, Science Centre and Singapore Discovery Centre. Blending in with the garden and lake settings, these new attractions will offer fresh recreational opportunities around the lake.

    The first anchor attraction is the new world class Science Centre. It will be moved next to the Chinese Garden MRT station. The new Science Centre will not only be bigger and more accessible, the new location also provides exciting opportunities to extend the learning experiences beyond the centre to the lake and surrounding green spaces.

    A new lakeside village will be created next to the Jurong Lake. Just 10 minutes walking distance away from Jurong Gateway, the village offers an alternative shopping and dining experience, with food & beverage, retail and entertainment uses and boutique hotels by the lakeside.

    This village will be connected to Jurong Gateway through a network of walkways, making it a natural gathering place for residents, visitors and people working nearby.
    Still bullish? That's good.

    Anyway, Jurong Lake District is even more bullish now.

  29. #29
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Still bullish? That's good.

    Anyway, Jurong Lake District is even more bullish now.
    Wait till May, then we will get to know of other plans in the MasterPlan 2008.

  30. #30
    Unregistered Guest

    Default Re: Still bullish on Singapore property

    Quote Originally Posted by Unregistered
    Quote from Post 18:

    Quote:The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    Unquote

    I am not FT but I had the same feeling. Just like I had with the dot.com concept years ago. No basis to support claims. Soon it will be doggone.
    yOU MEAN LIKE DOT.COM, PROPERTY.COM ALSO WOULD BE GONE?

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