Excerpts from the Credit Suisse report on Singapore Property Sector dated June 23, 2009 (see full report attached below):
Quote:
If we consider total housing supply including public housing,
average supply of 24,000 during 2008-12 is 45% lower than the
10-year historical average. This does not look excessive versus
the annual average 24,000 household formations (marriages).
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We believe the 1,141 CCR DPS units this year have lower default risks as current prices are not far from launch prices; key risk would be the 1,270 CCR DPS units in 2010 that had been sold at peak prices.
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