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Coffeeshop Chit Chat - Demand for pricey flats still high </TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">kojakbt22 <NOBR>
</NOBR> </TD><TD class=msgDate noWrap align=right width="30%">Oct-5 7:51 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 24) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>793.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD>Despite economic uncertainty, demand for pricey flats still high
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I REFER to last Tuesday's report, 'Even pricey flats in great demand'.
As reported, the 50-storey Pinnacle@Duxton in Tanjong Pagar has attracted 1,467 applications for the 428 four-and five-room flats on offer - that draws three times more applications than the number of flats.
It amazes me to find out why it is so, and the rationales and mentality for people to go for pricey flats. The following attributes are likely answers:
- Land is scarce in Singapore, and limited land area is reserved for housing development. Hence, it gives people a feeling that housing is still a safer, stable and long-term investment.
- Singapore's steady and developed economy has attracted an influx of foreign investment, new immigrants and permanent residents. Hence demand for housing is raised.
- Buying or investing in property - a necessary shelter, regardless of which type of housing, be it private or HDB flats - is still considered the most safe and sound mode of investment. It is especially true and valid when the worldwide economy faces financial crisis and the domestic economy is encountering a technical recession.
- Singapore has constantly achieved remarkable economic growth and high GDP in the past few years and created wealth for many people, who are inclined towards housing investment.
- If the supply of housing remains constant, demand for housing will definitely push up prices, as it has clearly shown in the sale of flats at Pinnacle@Duxton.
Nevertheless, we must be aware and extremely cautious of the vulnerable and volatile conditions of the global economy, tighter or strictly controlled financial regulations, such as credit control in borrowing, fluctuating demand and supply of housing will definitely influence the property market. Hence I advise all potential buyers to do their homework well and measure their financial capability before investing in the property market. Only by doing so, can we avoid any unexpected risks to our investments. Teo Kueh Liang
[email protected]
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I REFER to last Tuesday's report, 'Even pricey flats in great demand'.
As reported, the 50-storey Pinnacle@Duxton in Tanjong Pagar has attracted 1,467 applications for the 428 four-and five-room flats on offer - that draws three times more applications than the number of flats.
It amazes me to find out why it is so, and the rationales and mentality for people to go for pricey flats. The following attributes are likely answers:
- Land is scarce in Singapore, and limited land area is reserved for housing development. Hence, it gives people a feeling that housing is still a safer, stable and long-term investment.
- Singapore's steady and developed economy has attracted an influx of foreign investment, new immigrants and permanent residents. Hence demand for housing is raised.
- Buying or investing in property - a necessary shelter, regardless of which type of housing, be it private or HDB flats - is still considered the most safe and sound mode of investment. It is especially true and valid when the worldwide economy faces financial crisis and the domestic economy is encountering a technical recession.
- Singapore has constantly achieved remarkable economic growth and high GDP in the past few years and created wealth for many people, who are inclined towards housing investment.
- If the supply of housing remains constant, demand for housing will definitely push up prices, as it has clearly shown in the sale of flats at Pinnacle@Duxton.
Nevertheless, we must be aware and extremely cautious of the vulnerable and volatile conditions of the global economy, tighter or strictly controlled financial regulations, such as credit control in borrowing, fluctuating demand and supply of housing will definitely influence the property market. Hence I advise all potential buyers to do their homework well and measure their financial capability before investing in the property market. Only by doing so, can we avoid any unexpected risks to our investments. Teo Kueh Liang
[email protected]
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