Price decreasing for singapore property !

Guest · on *08 Aug 08 9:39 am*

'The crisis is definitely not over and volatility may move from the US and Europe to Australia and NZ, where their housing markets are starting to wobble.'

OCBC Bank economist Selena Ling

Guest · on *08 Aug 08 10:27 am*

Guest · on *08 Aug 08 11:06 am*

All Smart BUyers out there. Developers are squeezed. Holding on to unsold properties will get more costly for the developers. Let's wait until the developers' faces turn blue. You've got the bargaining power. Just wait!!!

Guest · on *08 Aug 08 2:54 pm*

Guest · on *08 Aug 08 4:41 pm*

Guest · on *08 Aug 08 5:49 pm*

Guest · on *08 Aug 08 11:19 pm*

As usual, watch what I said over 10-mths ago:

The previous major resistant was somewhere in 2600-2700 level which was the previous peak in (Yr1994)(Yr1996)(Yr2000)... This resistant has been rise gradually close to 2800. This resistant was broken in end 2006... And only then we saw a suddenly surge in property market in Feb/Mar 07 just after CNY. (just like a turbo spinning to gather its power.. without you knowing it till you have a sudden surge of power in the car once the turbo kicks in)

Since the major resistant was broken, its now become a major support for the whole upswing. So now the STI already entering into a new zone of 28XX to 39XX.
28XX became a major support now & 39XX became a major resistant now. Both will rise gradually & thats why some analysis predicted it will reach 4000 level when its going to try for the 2nd time.

So as long as STI remain above at this major support (around 2800 level)... thats isn't much adjustment to our property market! If later STI started to climb.. you still don't believe.. till above 3500.. 3600 level.. then is too late for you if you still hoping for any correction in property market, even for the next few years.. at least!! Wink

Guest · on *09 Aug 08 8:51 am*

Growth forecast for year revised down to 4-5 %
PM Lee calls for S'poreans to prepare for bumpy year ahead
By Lee Siew Hua

Speaking from the colonial-era Sri Temasek, his official residence, PM Lee noted that despite the uncertainties ahead, the Republic is in a strong position and projects like the integrated resorts would keep economic momentum going. -- MINISTRY OF INFORMATION, COMMUNICATIONS AND THE ARTS

SINGAPORE has revised its full-year growth forecast, narrowing the range to between 4 and 5 per cent.

Changi site for fourth university?
THE fourth university here will very probably rise on a plot of land in Changi South that was to house the aborted Asian campus of the University of New South Wales, education sources told The Straits Times.

They identified the 20ha site as the logical choice in Changi, which Prime Minister Lee Hsien Loong said yesterday would be the locale for the new university.
... more
This reflects a less-rosy outlook from the Government's earlier and broader projection of 4 per cent to 6 per cent.

The change was announced by Prime Minister Lee Hsien Loong in his National Day message last night when he also called on Singaporeans to prepare for a 'bumpy year ahead'.

He noted that the last 12 months have been marked by economic uncertainty worldwide. Still, Singapore achieved good economic results, he said, announcing that growth was 4.5 per cent in the first six months.

However, three factors put him in a 'somewhat guarded mood'.

One, the US economic troubles are starting to reach Asia.

Two, South-east Asia has become less prominent for investors, who view China and India as bigger opportunities.

Third, Singapore is battling its worst inflation in 25 years.

Against this backdrop, the growth revision was anticipated by economists like CIMB-GK head of research Song Seng Wun: 'With only 4.5 per cent growth in the bag and a wobbly external environment, it is not a surprise.'

In his message, the Prime Minister sought to balance the solemn mood with a couple of bright spots, and action plans.

He said in his televised message that Singapore can seize opportunities and strengthen its position by acting on three fronts.

First, create wealth by developing the economy. Ahead are major projects such as the integrated resorts and a $6.8 billion solar energy plant, the world's biggest, all pushed in the years when conditions were good.

'These projects will create good jobs, and keep our momentum up despite the uncertainties ahead,' said Mr Lee.

Second, he promised 'further steps' to create a baby-friendly society where infants are a 'natural and important part of life, and where young couples get support in starting families'.

Third, open up the Singapore system progressively, with the Internet now transforming life. 'This is the right way to go,' he said. Singapore will adapt to these changes in the digital world, and 'educate and engage the cyber-citizens'.

But as Singapore opens up, the people must know that 'all freedoms come with responsibilities to uphold social stability and security'.

He urged Singaporeans to focus on these three fronts to secure Singapore's long-term future, and to look beyond immediate problems like inflation.

Inflation is tipped to average at between 6 per cent and 7 per cent this year, said latest official forecasts.

Mr Lee acknowledged that 'some Government policies do raise the cost of living'. He cited increases in the Goods and Services Tax and Electronic Road Pricing.

'But they are essential, otherwise we would not do them,' he said, speaking from the Sri Temasek, the official residence of the Prime Minister at the Istana.

The GST, for instance, finances the Workfare Income Supplement scheme, and there are other help programmes for the poor, elderly and sick, he said.

'Middle-income Singaporeans are getting something too to help tide over this period.'

Despite the uncertainties, PM Lee is confident, saying 'Singapore is in a strong position'.

Agreeing, DBS Bank economist Irvin Seah said: 'The base of the economy has broadened with the last few years of economic restructuring, so this adds stability and helps us weather external volatility.'

Labour chief Lim Swee Say told Singaporeans not to feel disheartened as the country's economic foundations today 'are much stronger than those of the rest of the world'.

But Mr Chia Ban Seng, vice-president of the Singapore Chinese Chamber of Commerce and Industry, wants the Government 'to put a moratorium on various taxes and fees and do its best to keep in check the continued rise in business costs'.

Guest · on *09 Aug 08 12:47 pm*

Wah still got growth hah!! Like that CONMAN DIVA prediction CMI again leh.. he die die predicted is recession & will be in negative(-) growth leh!!

Guest · on *09 Aug 08 12:59 pm*

Guest · on *09 Aug 08 7:03 pm*

In just 12 months, Singapore has swung from Boom Town to seeing its slowest quarter in five years, reports ANNA TEO

ONE year ago, economic and business sentiment in Singapore was probably at an all-time high: The property market was on a roll, banks and finance houses went on a hiring spree, and the economy, flush with liquidity, looked headed for a fourth year of 7-9 per cent growth.

The signs spelt Boom Town everywhere you looked, and economists predicted that Singapore, restructured and reinvented, would trail only China and India among Asia’s fastest-growing economies for years to come. Whiffs of (near-irrational) exuberance were much in the air. Then, bang! Just days before National Day 2007, a global financial market meltdown threatened the party mood. The balloons popped, but as it turned out, the Singapore economy’s strong first-half momentum was enough to see it through the year. Gross domestic product (GDP) growth for 2007 still turned in at a robust 7.7 per cent.

Twelve months on, the mood is decidedly more sombre. Overnight, it seems, the property bubble (of ‘exuberance’, not so much ‘excess’ this time) burst, the buzz in the finance sector has all but fizzled, hot hiring has cooled (with even talk of selective retrenchment in some segments), and the economy has now seen its slowest quarter in five years.

Has there been a crack in the domestic underpinnings somewhere, or is - as is widely assumed - the small open economy just taking hits from external headwinds?

The much-heralded US economic slowdown has finally come to pass, compounded by a sub-prime mortgage crisis that continues to wreak havoc through not only the American economy but pretty much globally, in second or third-round hits.

Slower growth has also set in elsewhere in the developed world, following several years of robust performance. Not least, a surge in global energy and food prices has pushed inflation to the fore of policy concerns in just about every part of the world.

And latest analyses by economists list more than several major economies ‘navigating towards (or through) recession’ - including the US, Canada, Spain, Ireland, Italy, the UK and New Zealand. Germany, France and Japan are also seen to be teetering on the brink of recession. In other words, as RGE Monitor notes, a full-fledged G-7 recession in the making.

With this outlook, coupled with ever-present risks of yet another bout of global financial turbulence, it is interesting to see some fairly upbeat forecasts of East Asian resilience, like the Asia Development Bank’s (ADB) that expects the region to weather the global economic turmoil ‘relatively well’ and grow 7.6 per cent this year and next.

ADB has the Singapore economy growing 4.9 per cent in 2008 and 5.8 per cent in 2009 - probably a little more bullish than the consensus here at this point - on the back of strong domestic demand (driven by business investment) and buoyant exports. It’s not apparent that Singapore’s exports will be too ‘buoyant’ this year - the official forecasts of 2008 export growth were pared a few months ago, and still the May and June trade figures proved unexpectedly bad. Economists also generally see Singapore - given its size, structure and exposure - as the region’s most vulnerable to a global downturn.

Has the slowdown exposed, or widened, Singapore’s fault lines? Sure, inflation surged through the economy, price pressures piled up. But apart from ever greater external uncertainties and a fall in sentiment, fundamentally what has changed in the six months or so between Boom Town exuberance in 2007 and sombre caution in 2008? Problems such as structural joblessness in older Singaporeans and a growing income disparity have not and cannot be swept away overnight.

That said, none other than Minister Mentor Lee Kuan Yew has declared that the next five to 10 years will be Singapore’s most promising yet as it stakes its place among the world’s top cosmopolitan global cities.

‘We are moving to a new plateau, a new platform. You can see it visibly before your eyes,’ Mr Lee said last month.

It’s surely a vision to inspire all Singaporeans. But, for all the spin around Singapore’s restructuring and transformation, enhanced by a huge influx of foreign skills, some believe that its fortunes - and Asia’s - will, for the foreseeable future, still largely be tied to the global economy. Which also means that Singapore can and will ride on the next upturn, when - or if - it comes.

Source : Business Times - 9 Aug 2008

Guest · on *09 Aug 08 8:00 pm*

Guest · on *09 Aug 08 9:22 pm*

Guest · on *10 Aug 08 12:25 am*

Guest · on *10 Aug 08 5:31 am*

I'll bet F1 will have little or no impact on property market in fact when the hype is gone.....the property market will turn to the worst.

Price decreasing for singapore property !

Singapore Room & House For Rent, Sale, Buy, & Sell

Price decreasing for singapore property !