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.
No comments:
Post a Comment