Quote:
Originally Posted by Unregistered
90% of people here are home owners so they would not want property prices to drop. Those who make noise are the minority who may include PRs and foreigners wanting to buy cheap properties here. They make noise online so you never know who they are, they may pretend to be locals but they may not be. Local Singaporeans have the choice to buy cheap BTO flats so they should not make noise. Those who want to buy cheap flats in matured estates are fussy folks. They want to buy cheap properties in prime areas. Just too much. These are the younger people who are pampered like little children.
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Let me explain to you why by the very nature of the property market, there will always be discontentment over high property prices.
The property market in singapore is like a pyramid in terms of no vs price. Right at the top with very few nos is GCB followed by Bungalows,Semi D, terrace, condo, EC,
HDB EA, 5 room, 4 room, 3 room and 2 rooms. The majority of people in Singapore stay in 4 room flats.
Let's say it is 2006 all over again.
A young couple buys a 4 room flat for $250k while an older couple buys a 1700sf FH terrace for 900k.
It is 2014. Young couple's 4 room flat is now worth $500k while older couple terrace is worth 1.8million..... The same 100% increase in price.
By your theory both couples are happy or equally happy. BUT do remember that the young couple, being young and knowing how to count, knows that a gain of $250k is NOT equal to a gain of $900k. In fact if ALL properties gained by 100%, the ones at the lower part of the pyramid will find it impossible to upgrade due to the simple fact that in 2006, the actual gap between the property that they own and what they aspire to get is small while in 2014, the gap has grown tremendously large.
This is the crux of the unhappiness behind the property price increases. There is only a group of people who may be happy I.e. The down graders or the people who Re selling to stay in Iskandar or Perth.
As for me, I am with the unhappy majority cos I am waiting to leap from
HDB EA to terrace.