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Singapore Property Prices Reached New Record High, what is the Market Outlook?

Written by Dennis Ng on .

What are my views on the Singapore Property Market after the recent property cooling measures announced on 31 Aug 2010?

High End property market likely to go up higher, becos compared to Hong Kong, Beijing and Shanghai, High End Property prices in Singapore is still "cheap" (cheaper by about 30% to 50%).

However, HDB Resale Flats' prices likely to already peak with the latest property measures. Cash Over Valuation is likely to drop as private property owners have been barred from buying HDB flats and HDB Resale Flats' Transactions and Resale Prices also likely to fall in year 2011.

Commercial property prices also likely to head higher, as rental rates are likely to recover. Currently, Raffles Place Office rental rates is still about 40% below peak in year 2007.


Dennis Ng,

1 Oct 2010 SINGAPORE (AP) -- Singapore's housing prices reached a fresh record high in the third quarter as the city-state's economy booms after last year's recession.

Private residential property prices rose 3.1 percent in the July-to-September period, down from 5.3 percent growth in the second quarter, the Urban Redevelopment Authority said Friday. Real estate prices are at their highest level since the government began the index in 1975.

Prices of public housing apartments, where about 80 percent of Singaporeans live, rose 4 percent last quarter.

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

The government expects the economy to grow as much as 15 percent this year.

Private property 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.