This boom is under the premiership of LHL who is more creative. Parks, Lakes, canals, rivers, sea contributes to the upsurge of property value even if there is not much movement in the economy.
Yup, I’m afraid that’s how this property boom will work out… mystrey solved! next…! :lol:Cascading effect.
Funds and expat super rich buy super high end.
Local super rich cannot afford super high end,buy high end.
Middle rich cannot buy high end buy middle level.
And so it goes.One day middle level earners got no middle level condos to buy buy big HDBs or niche HDBs.
knight frank agentsThe rich and super rich values, amongst many things, safety and security the most… they (and their kids) want to be able to roam the streets freely without fear of being robbed or kidnapped… they want stability in the political system and don’t want their wealth/properties confiscated or suffer financial losses because of sudden change in governments and/or their policies… Malaysia (spelt Bumi), Thailand (political unrest and troubled south), Indonesia (corruption and riots), and Philippines (kidnapping and terrorism) are examples that worries the rich…
Yet, when you compare the already sky-high property prices in Hong Kong, Shanghai, and far away Sydney, Melbourne, London, and New York with Singapore’s, there’s little wonder why the rich Chinese, Indians and Arabs are choosing to park their wealth here…
I heard from my friend who is in the property business that some agents gather up options from buyers of Sentosa Cove projects, fly to Dubai and flip them… these rich Arabs may never set foot on Singapore but what better way to park their money here?
1) mass market speculation not significant. *and I hope it doesn't*
2) huge infrastructure investments (IRs, more reserve land released, etc). This enhances a city's "vibe" which enhances quality of life. This is what the rich goes for.
I seriously think the government should concentrate on lifestyle based projects (like Gardens at the Bay, revamping of Clarke/Boat Quay,improving seascape) rather than more malls. we have more than enough malls.