The 8th measure to curb property prices has been rolled out and everyone is clapping and slapping their backs for the big success in preventing a property bubble. The latest figure shows property prices still creeping up but in smaller increments.
Did anyone see the elephant in the classroom? No, where, where got elephant? A 99 year lease kopitiam is fetching $24m with probably 80 years of the lease left. And it is great value for money. How much was it bought initially? $2m or $3m?
Property prices are very stable after seven curbing measures and with this eighth curbs, everything will be ok. Thank God, there is no property bubble. Property prices are now what they should be, reasonable and affordable, and growing only a little bit at a time as it should be.
Well done.
Singapore’s property prices will never come down. Neither will Singapore face a housing bubble crisis like the Americans or in Japan. We have the most highly paid talents managing the housing bubble, oops, I mean housing prices, and they would not allow a bubble to be formed, thus no bubble to bust. Anyone see any housing bubble? No right.
Chua Chin Leng AKA Redbean
*The writer blogs at mysingaporenews.blogspot.com