Just came across a new piece reporting that real estate industry analysts publicly suggesting that despite the government's cooling measures, land prices in the private property market could go up by 20% in the next 3 years, with finished products going up between 10-15% in prices. The crux of the argument is that Singapore's population will continue to increase. In recent weeks, I have heard this bullish argument repeatedly from various quarters. How strange, I thought, that people have such short memory about the public outcry against the Population White Paper published earlier this year. I am not sure if the government can 'pull a fast one' on Singaporeans in this matter, although I would certainly be disappointed in our democracy if we can be so easily hoodwinked.
In any case, when it comes to the state of the real estate market, I don't trust the analysis of those within the industry. They often appear to me to be no more than advertorial writers 'preaching the party line' with constantly bullish views.
Economically, I see a lot of issues in the next 2-3 years globally. I doubt Singapore can escape unscathed. In fact, the initial salvos of the next crisis may already be upon us, with the weakening of the ASEAN economies in recent months.
