Tuesday, September 7, 2010
Singapore Property Price Recovery Profile
Following from my gripe yesterday about the sky-high property prices in Singapore these days, I went about examining the property price recovery profile in Singapore over the past 15 years (see Chart). Notice the red line. That shows the recovery profile that is currently underway. The duration is not quite as long as the previous recoveries (yet), but the rate of increase is striking. Property prices have risen by an average of 9.5% each quarter during this recovery, much higher than that in previous ones (see Table). Let’s see if the recent measures will rein in prices. I certainly hope they will.
Monday, September 6, 2010
Overcrowding in Singapore?
I came across this well-written piece on the SDP website: http://yoursdp.org/index.php/news/singapore/4086-65-million-part-1.
It highlights the perils of pushing Singapore's population to 6.5 million. Indeed, I can't imagine sharing tiny Singapore with so many people. As it is, Singapore already feels super-crowded. Trains, malls, roads...everywhere seems to be infested with people. Oh yes, the property market is incredibly high now too, no thanks to the surge in population in recent times. I have been hunting for a flat since coming back from my studies but no luck so far. The COV these days always seem to be in excess of 100k. Including the 20% equity, I'll need to fork out close to 200k cash! Sigh, wonder when I will finally be able to find a roof over my head.
Anyway, back to the article. One of the readers, BryanT, argued that since Singapore is a city state it is more apt to make comparisons with other cities in the world. But is that really true? If I can't stand the crowd in Cairo, I can move to Giza. But where can I move to in Singapore? From Pasir Ris to Boon Lay?
It highlights the perils of pushing Singapore's population to 6.5 million. Indeed, I can't imagine sharing tiny Singapore with so many people. As it is, Singapore already feels super-crowded. Trains, malls, roads...everywhere seems to be infested with people. Oh yes, the property market is incredibly high now too, no thanks to the surge in population in recent times. I have been hunting for a flat since coming back from my studies but no luck so far. The COV these days always seem to be in excess of 100k. Including the 20% equity, I'll need to fork out close to 200k cash! Sigh, wonder when I will finally be able to find a roof over my head.
Anyway, back to the article. One of the readers, BryanT, argued that since Singapore is a city state it is more apt to make comparisons with other cities in the world. But is that really true? If I can't stand the crowd in Cairo, I can move to Giza. But where can I move to in Singapore? From Pasir Ris to Boon Lay?
My Very First Attempt at Blogging
Ok, I know I am really behind the curve. There are probably more than 10 million blogs out there yet this is my first attempt at blogging. I am not even sure what I will blog about. Economics? Finance? Politics? Hmmm, I guess it will be a bit of everything. Random thoughts as they arise. I am not even convinced I will blog regularly since I am not sure why I am blogging to begin with. Haha. Wish me luck!
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