Looks like our property market defies gravity. It only goes up and never come down. Can kar kar buy.
I believe the government will be forced to introduce some ice cold measures to stop this.
Of course, property prices are a good indicator of a country's economic health. Cost of outright buying and cost of renting. Shophouses here cost a few million dollars, while there are so many similar, eve identical, shophouses, those Peranakan style types, in Malaysia which are abandoned with no buyer while the only tenants (who are owing rent in arrears) are the rats and cockroaches.
The owners couldn't be bothered to maintain and upkeep them, and just left them to rot. I saw these in Ipoh, Malacca and Penang. So many!
So Singapore's property prices are high because of the simpur Econ 101 Theory of Supply and Demand.
But we need some government intervention. Prices of commercial properties and private residential properties can go as high as the buyer is prepared to pay, but prices of HDB flats must be controlled, not subsidised. We cannot allow HDB prices to keep rising and government subsidies to keep increasing which will lead to a vicious cycle. Subsidies will eventually come from taxes, while increasing subsidies is just a short-term solution to a long-term problem.
Land costs, material costs and labor costs, all have gone up so much, how to keep property prices low?
But recently the rental market has softened quite a bit. D9 area for instance dropped about 4 to 10%. Shd be temporary
Cooling measure not cooling enough ... cool more lah
The new hdb reclassification will force both hdb and condo near Mrt to rise.
Those far from mrt will be stagnant.
Property prices rise at least than inflation rate, so it's actually a net decline.
(03-10-2023, 09:58 AM)Huliwang Wrote: [ -> ]Looks like our property market defies gravity. It only goes up and never come down. Can kar kar buy.
Years to come it will be common more resale HDB flats sell at $ millions
High and higher
GST increase, price of commodities increase, transport, petro, gas, water,electricity, building materials, labour etc all will be increased.
Population increases, demand more than supply.
No worries PAP govt will help you
buying a GCB in Bt Timah area now.
Property up and down trend is common in a small island nation.
With 80% control by HDB, it is manageable.
Unlike other countries, the people future home is under the mercy of private developers tycoons.