Tuesday, May 22, 2012

Why The Surprise?

That’s my questions when people are surprise that private home sales still rising in the month of April. Why is there any surprise at all that private home sales in Singapore are still rising?

Despite all the talk of cooling measures by the Singapore government, private home prices have never went down. Prices may have risen more slowly since the cooling measures but it is still rising.

Despite all the talk by government analysts saying there will be a 30% drop in property prices this year, this has not happened because rich foreigners are still buying Singapore homes. They do this no matter the price because they do not believe the Singapore government is serious about making home prices in Singapore more affordable. Why should they bother about the price when they do not believe the Singapore government will allow the price of homes to drop substantially?

To be fair to them, most Singaporeans don’t think the Singapore government is serious about making home prices in Singapore more affordable. It had been pretty obvious for months that all the cooling measures has not work because private home prices never went down (a drop of 0.01%? Don’t make me laugh) but we have government agencies like the Ministry of National Development (MND) insisting that the cooling measures “are working”.

That’s why people (Singaporeans and foreigners) keep on buying homes in Singapore. As long as the Singapore government refused to admit their cooling measures are NOT working, as long as the prices do not come down (HDB house at $900,000), as long as people don’t think the Singapore government is serious about making home prices in Singapore more affordable; home sales and housing prices will continue their upward trend.

To me, not only is the rise in private home sales not a surprise; it should be expected!


Anonymous said...

The MIWs continue to surprise, saying one thing to appease the daft while continuing that which is beneficial to them.

Anonymous said...

First of all, this govt will continue to perpetuate nonsense that property price will drop due to their measurement but it never drop. They will use of property agents , and mouthpiece media to say that property price have dropped when it didn't. When you question them further, you finally find that they are just playing with words.

Saying that "it will" does not mean it did in reality, but still those clowns get away as they did in past decades.

Everyone know how can property price be dropping when the govt still insist for more foreigners to come ?

Anonymous said...

Our PAP Govt is still dead silent in not explaining how a typical HDB flat which costs around S$130K to construct ended up being sold at around S$400K and they still insists that it is affordable ?

And why has our Govt chosen not to explain why is it priced so expensive other than a mere excuse that if not, it is akin to "raiding our reserves" ?

Why has our PAP Govt become so greedy in making Singaporeans pay so much just for a roof over their heads ?

Ghost said...

I think what the gov is trying to do is to talk the prices down but it is just not working. More steps will need to be done