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Swister LV11
发表于 9-6-2011 17:41:17
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本帖最后由 Swister 于 9-6-2011 17:42 编辑
'My worries about the private property market': NATIONAL Development Minister Khaw Boon Wan
NATIONAL Development Minister Khaw Boon Wan has expressed his worries about the private property market.
In his latest blog entry on Thursday, Mr Khaw highlights the need to be aware that 'sharp property price increases cannot go on forever'.
'Those who borrow to go into properties thinking that prices will continue to rise, will be thrown into financial hardship should prices drop and banks start calling,' he warned, using the United States property market crash and how 'we all suffered for it' as a stark reminder. He also highlighted the massive supply of private property to inundate the market from 2013, laying out the facts to back his point:
-A total of 35,000 private units (condominiums and landed properties) with 45,000 units waiting to be built and sold.
-About 8,000 units will be available over the next few years, as a result of the Urban Redevelopment Authority meeting strong demand from developers and property buyers. Coupled with the committed investments, the figure rises to 53,000.
-The external environment 'is not exactly bullish', what with Europe's sovereign debt and the still-unstable Middle East crisis.
He stressed that while he was worried, others share his sentiments, citing a recent property analyst: 'Some property investors seem either 'blissfully ignorant' of the massive supply that will hit the market from 2013, or under the belief that the impact would affect others and not themselves.'
Mr Khaw signed off with advice for 'investors and upgraders to bear these considerations in mind when they go to show rooms and contemplate if they should sign up.
'What seems rosy today may turn out to be thorny, if we are not careful.' |
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