Jump to content
House Price Crash Forum
Sign in to follow this  
TheCountOfNowhere

Singapore

Recommended Posts

http://www.nytimes.com/2015/02/18/realestate/a-high-end-property-collapse-in-singapore.html?smid=fb-share&_r=0

"

A High-End Property Collapse in Singapore"

I noticed this story on the front page, it's worth a thread of its own.

Same sort of places as London....finance, no spare land, disgruntled locals.

There may be trouble ahead.

Share this post


Link to post
Share on other sites

I've never understood this thing with Singapore.I have family there whom I go to see and for the life of me,I can't figure out why so many people are trying to cram onto such a small bit of land.

It only takes a small drop in demand and there's a crash.Much like Dubai.

Share this post


Link to post
Share on other sites

I love when they tell me UK prices can't collapse bcos it's such a small, densely populated island...

I say to them....Hong King - Phoey.

http://www.bbc.co.uk/news/business-25754898

"Buying a home has become even less affordable than before the last property bubble burst in 1997."

Other people have bubbles, we just have YOY 20% rises in prices.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

My guess is that Singapore appeals to those in the region in the same way London does to Russian oligarchs. It's culturally not that dissimilar to home, but welcomes foreigners with cash, offers more a bit freedom, and a place to stash the loot.

Could the same happen in London? Unfortunately the signs are that any of the parties likely to get in will do everything they can to stoke the HPI fire rather than cool things off a bit for the benefit of the locals. Can you really imagine a future Government introducing a tax for foreign buyers?

Edited by StainlessSteelCat

Share this post


Link to post
Share on other sites

I've never understood this thing with Singapore.I have family there whom I go to see and for the life of me,I can't figure out why so many people are trying to cram onto such a small bit of land.

It only takes a small drop in demand and there's a crash.Much like Dubai.

They seem to have a disproportionately high amount of beautiful women there.

But here are several other reason.

http://www.bbc.co.uk/news/world-asia-24428567

Share this post


Link to post
Share on other sites

Can you really imagine a future Government introducing a tax for foreign buyers?

Of course they will.

The only thing the public sector knows is TAX. IMHO, they take what is not theirs to take and they give ti to themselves and friends and some they give back to the people they think most needy ( or most likely to cause trouble ).

My opinion is that we dont have government running this country, we have organised criminals, of course we have freedom to speak our minds and make such claims....but for how long I wonder. We can protest, so long as it's organised well in advanced and the relevant authorities notified. :lol::lol::lol::lol::lol::lol:

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

My guess is that Singapore appeals to those in the region in the same way London does to Russian oligarchs. It's culturally not that dissimilar to home, but welcomes foreigners with cash, offers more a bit freedom, and a place to stash the loot.

Exactly i'd imagine the wealthy and corrupt of the region sleep better at night with their money in Singaporean banks and property than in their own country.

Share this post


Link to post
Share on other sites

Except...

(or is this the final word on BBC propaganda...we may be poor and uneducated etc. but we're happy in our collective ignorance...)

Maybe that fine totty plays hard to get, that'd make them unhappy.

Share this post


Link to post
Share on other sites

I live in Singapore. Property values have been falling since late 2013, and the main cause of the decrease is a host of deliberate government policies aimed at exactly that. Except for some typical speculators, the general population don't really flap too much about this.

In the long run, they are trying to create a more sustainable system.

And by the way, it is a fantastic place to live.

Share this post


Link to post
Share on other sites

Singapore, unlike Dubai, is not in the middle of a desert hellhole with nothing to commend it. The surrounding countries beautiful.

So Singapore is the tropics minus the corruption, malaria, and bad healthcare.

Edited by bambam

Share this post


Link to post
Share on other sites

I like Singapore, although haven't been there for decades. I thought the population was supposed to be going into decline soon, but maybe they've solved it with immigrants.

Share this post


Link to post
Share on other sites

I live in Singapore. Property values have been falling since late 2013, and the main cause of the decrease is a host of deliberate government policies aimed at exactly that. Except for some typical speculators, the general population don't really flap too much about this.

In the long run, they are trying to create a more sustainable system.

And by the way, it is a fantastic place to live.

Yes, I also live in Singapore and agree with all the above.

The other thing that's been apparent is the dropping of expat packages which has lead to landlords not getting the ridiculous rents they used to get and a lot of voids (there are several long term empty apartments in our condo, all around 9k a month, no one but an expat package owner can afford). This has put pressure on real estate as well. The death of expat packages will spell the demise of some overpriced services not just real estate, eg international schools.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   208 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.