Quote:
Originally Posted by Unregistered
MRT circle line just opened, greatly easing the capacity crunch. COE prices on record high, so there will be fewer cars. As for jobs, didn't the media just said a million jobs were created and all fresh grads got jobs that pay like 10k a month?
With higher income, happy people, and more good years, property prices have no where else to go but up up up! 
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I read this post with some amusement. It's hard to discern if the poster is deceptive because he is long property or just unbelievably naive.
By every objective measure (price to rental, price to salary, % of salary to mortgage etc), the Singapore property market is not just overpriced but way overpriced. Prices have shot up over 100% in 4 years, fueled by easy money (enbloc plus stock market), overseas liquidity, and low loan rates.
We are at a point where funding a property purchase by salary is not feasible if u use conservative Lian assumptions of 4% interest and 20 year loan period.
The smart money (property developers) know this and are trying to get rid of their inventory as fast as they possibly can, and are bidding very very very conservatively for new land plots. They are also slamming khaw boon wan every opportunity they get, cos they are very nervous indeed.
And bank analysts are coming out of the woodwork to say that 2012 and 2013 will be down years.
Prices have to come down. It's just a matter of when.