Let me also be an "analyst".
Singapore's property market is very safe, at least for the next 10 years until all the MRT projects are completed.
Even if the property market doesn't go up, it will not go down.
Because ... in order for the market to go down, the country has to be in recession.
But how to have recession with the construction industry booming? Even if other sectors stop totally, the construction sector alone will ensure that the economy doesn't contract.
Look at the MRT projects coming up:
The Downtown line will be completed in three stages, opening by 2013, 2015 and 2016.
The Boon Lay East-West extensions are slated for completion by 2015.
The Thomson line will be completed in 2018.
The Eastern Region line will be completed in 2020.
http://en.wikipedia.org/wiki/Mass_Ra...sit_(Singapore)
So for the next 12 years, until the completion of the Eastern Region line in 2020, Singapore will be one big construction work site. Each time an MRT station is completed, the property prices around that station will rise. This data will then be captured in the URA statistics, and so the property price index will rise again.
That's why Mah Bow Tan is so confident to reject Kwek Leng Beng's suggestions regarding land sales and deferred payment. Simply because the economy is more in danger of overheating than cooling.
I have not included other projects like the Jurong East redevelopment plan that is recently announced, the Punggol 21 Plus, the Paya Lebar Business Hub, Changi Regional Business Centre, further building projects in the Marina Bay area, and Changi Airport Terminal 4.
The Ministry of Transport is currently working on a masterplan on Terminal 4. Aviation experts estimate the terminal will be built in the next 10 to 15 years.
http://en.wikipedia.org/wiki/Singapo...ort#Terminal_4