S'pore home prices likely to fall further

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>S'pore home prices likely to fall further

</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Joyce Teo

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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->PROPERTY investment firm IP Global has said Singapore's residential market is not worth a look until at least six months from now.
The Hong Kong-based company, which helps property investors buy in emerging and recovering markets, expects prices in Singapore to fall further and recommends waiting until these return to pre-rally levels.
Until then, it says, the market will remain unattractive to foreign investors.
Strong demand sent property prices surging through the roof in 2007. Intense speculation then created a lot of froth, resulting in a mini-crash, said IP Global managing director Tim Murphy.
The fall in Singapore's residential property market, hence, started a year before the onset of the recession. 'I don't think anything the Government will do will revive the market now,' said Mr Murphy.
Private home prices will only flatten out by the third or fourth quarter, he said.
Property players have been hoping the Government will do something to stimulate demand, such as deferring payment of the stamp duty.
Mr Murphy's advice to investors: 'Look at yields, look at supply, look at cost of funds and spend five times longer than you normally do finding something to buy. There will be lots of deals in the next six to 12 months,' he said.
If he were to enter the Singapore market later, his interest would not be in luxury homes - where prices have fallen furthest and are expected to continue falling faster than in the other sectors - but in reasonably-priced homes in prime districts.
IP Global, which also invests in commercial properties, believes that the short-term office oversupply in Singapore is worrying. Office rents plunged by nearly 20 per cent in the fourth quarter of last year, while supply continues to grow. On the upside, Mr Murphy believes that the property market has a number of factors working in its favour, such as strong population growth and its strategic position as a commercial hub in the region.

 

[2lanu]

One thing about these analyst or consultant is that they can always say things without having to account for.

Like in 2007, stock analyst use charts, forecast, forward p/e to predict growth till 2010. Now that market collapse and where are they now?

 

[newyorker88]

One thing about these analyst or consultant is that they can always say things without having to account for.

Like in 2007, stock analyst use charts, forecast, forward p/e to predict growth till 2010. Now that market collapse and where are they now?

All things run in cycles. It does not take a rocket scientist to figure that one out. 98 crisis, and now 08/09 again. We had one in 1984, 89 too,

So all these so called analyst can go fuck spider if they say economy will grow so much and so much.

 

[singveld]

still much overprice. i think better to wait til it fall more than half the peak price.

 

[2lanu]

All things run in cycles. It does not take a rocket scientist to figure that one out. 98 crisis, and now 08/09 again. We had one in 1984, 89 too

It's 1987. Not 84 or 89. That time interest rate shot up to 24%!

 

[newyorker88]

It's 1987. Not 84 or 89. That time interest rate shot up to 24%!

Haha, old man liao. forgot the time. 87 is the start. 89/90 was bad. We are going thru same thing again.

Wait for a year or 2, before you go for the kill in properties. We are only at begining of the depression.