I had posted the following comments in Tan Kin Lian's Blog a few days ago. There was also a request from a keen visitor to my blog that I write an update about the Singapore property market. While I will be following up shortly on this topic, I thought it might be apt to post the following while referring to a posting by a popular Blogger, Lucky Tan; on this same subject. All these testify to the "perspective" and direction many independent minds are watching and thinking about (be it Tan Kin Lian, Lucky Tan, Yahoo News or even myself) what our PAP Govt would and should have done and how the property market is currently reacting...in the light of evolving circumstances facing the world economy.
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Developers are a calculative lot. They are afraid of the oversupply.
Now REDAS is asking the Govt for an indepth review of the property cooling measures.
Read :-
http://sg.news.yahoo.com/redas-calls-indepth-review-property-cooling-measures-160000774.html
But if you look at the prices of the recent EC launches at Arc at Tampines ... the price isn't cheap. It starts at above S$741~$875 psf for 2rm, $693~$810 psf for 3rm.
Those who are not careful enough of the mechanics of their marketing techniques, they would be "tricked" into committing when price is still high.
Wait for a real correction of the property market, which looks quite certain if the world economy is going to be dragged down further...watch the US and Europe.
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