Singapore Real Estate Market Review - July 2008

Introduction 

June 2008 was overshadowed by the media hype of a number of public launches of mid-market new home projects such as Dakota Residences, Clover by the Park, Parc Sophia and the high-end Nassim Residences.

The URA’s announcement of the 55% jump in the sale of private new homes in the preceding months added some dressings to the shop-window, but to the initiated, the underlying truth is not as ‘Ra Ra’ as that on the surface. This is because the huge percentage increase was a result of a very pathetic showing in the preceding months
(See Table [1] below).

There is definitely some media hype being built up in the past weeks to dilute the fact that seller’s price have been shaved off some 10% to 15% and more new projects to be launched soon will come with more humble price tags. While the market forces are being played out, it won’t hurt to bring in some drum beats.

Singapore Real Estate Market Review - June 2008

Introduction – Monthly Property Market Update for May 2008

May 2008 was an uneventful month as the same old story of ‘uncertainties in the global financial market’ was replayed again and again. The buyers continue to adopt the ‘wait-and-see’ attitude while the developers continue to hold back launches. While waiting for a new market impetus and direction, the market looks set to slide into oblivion in June 2008.

Singapore Real Estate Market Review - May 2008

The picture of apparent calm in April belied a suppressed tension beneath. In fact, bad news outweighed the good ones by two-to-one; and the weight of negativity added to the body of evidence that the property market in Singapore is heading down a slippery path.

Externally, the big ship of the United State is leaking and there aren’t enough safety boats for everyone. So, many investors / speculators looked set to end up in the icy water.

Singapore Real Estate Market Review - April 2008

The global situation is far from certain. As I was preparing this Quarter Review for publication, the Straits Times Index (STI)  – the barometer of Singapore’s stock market performance – dropped 80-over points in a day in what appeared to be the beginning of another massive correction phase.  Unless and until the US economy stops the blood-letting,  energy prices goes back to sanity level, and prices of foodstuff come off from the shelf and back to floor level again, property investors will continue to adopt the ‘safety first’ strategy with compulsion..