Singapore property prices jump to a 17-year high

[SNAblog]

http://beta.profit.ndtv.com/news/show/singapore-property-prices-jump-to-a-17-year-high-80134

Singapore property prices jump to a 17-year high

Associated Press, July 01, 2010

Singapore real estate prices have jumped to a 17-year high in the second quarter as the city-state's economic recovery boomed.

The Urban Redevelopment Authority said Thursday that private residential property prices rose 5.2 percent in the April-to-June period, the highest since at least 1993. Prices leapt 5.6 percent in the first quarter and 7.4 percent in the fourth, bouncing back strongly after diving 25 percent in the 12 months to mid-2009.

Singapore's low crime rate, good schools and low personal and corporate taxes have helped the island rank near the top of expatriate global quality-of-life surveys and attract investors to the residential and office property markets. Singapore opened its first two casino-resorts this year, boosting tourist visits.gl

 

[borom]

......low crime rate, good schools and low personal and corporate taxes have helped the island rank near the top of expatriate global quality-of-life surveys and attract investors to the residential and office property markets. Singapore opened its first two casino-resorts this year, boosting tourist visits.

The Indian newspaper got it wrong.

We all know the high prices are due to the monopoly
-on land sales (for large housing )by the government and
-on public housing by HDB

In case we forgot our economics 101,
"Monopoly is a term used by economists to refer to the situation in which there is a single seller of a product ..for which there are no close substitutes......

Why Monopolies Can Be Harmful......

(1) Substantially higher prices and lower levels of output than would exist if the product were produced by competitive companies.

2) A lower level of quality than would otherwise exist. ...

3)A slower advance in the development and application of new technology
..........

The adverse effects of monopolies can be much more noticeable on an individual level...... prices for products so high as to cause hardship or be unaffordable for some people...... "

http://www.linfo.org/monopoly.html

HDB prices form the base of housing prices here and you just add it up from there ...condos...landed properties ect2.

 

[garlic]

Cannot be... Old Man LEE says no bubble, No problems... HE never lies!!

 

[borom]

" HSBC Holdings PLC Chairman Stephen Green said the financial crisis isn't over yet, though "we're on our way out," and suggested that markets shouldn't be complacent about the possibility of future shocks...........
may see some shocks from countries" that are facing big amounts of debt, ......."

http://online.wsj.com/article/SB10001424052748704518904575364581319054618.html

Food for thought for those still thinking about jumping in to buy.

Do you want to take on a 30 Years loan and follow those PRC/Indonesians who pay with dirty money?

How long can low interest rates continue-China and Korea already raised theirs.

 

[no_faith]

i agreed with the monopolies ting.

the property soar esp the related govt property. ridiculous.
there is no assistance from the govt.
keep on using our tax payer money to sustain the loss and cost.

even if u pay off the debt, hell yeah the hdb flat still dun belong to you altho
ya rite, we do not know whether the earth still exists after 99 yrs.

i cant see any light down the road. omg