Private Property Prices Broke year 2007's Peak Prices...
But the flash estimates from the Urban Redevelopment Authority (URA) also confirmed that - other than in the central prime areas - homes are now pricier than during the 2008 peak.
A URA spokesman said private home prices on the city fringes - officially 'the rest of the central region' - are 1.1 per cent above the last peak in 2008's second quarter.
Those in suburban areas or outside the central region areas are a heftier 7.6 per cent higher than levels in that previous peak, he said.
Overall, the URA index is just 1.9 per cent below the 2008 peak - after rising nearly 31 per cent since the third quarter of last year. It is likely to exceed that level as early as the next quarter, property experts predict.
A 2-Tier Property Market is Emerging in Singapore...?
Note: This article is now being selected by CPF Board to be featured in www.imsavvy.sg websites in the section of Savvy Blog Corner. Dennis Ng has been selected to be one of the 8 Financial Experts to share his views on www.imsavvy.sg
1 April 2010 - In Hong Kong, London, New York, Tokyo etc, all these major cities have a similar "phenomenon", that condos/properties "in the city" are at much higher prices than those in the suburbs, there exists a "2-tier market".
Why? Becos all Major Cities attract the very, very Rich and Wealthy. For them, they go for "prestige" and "in", they would gladly pay high prices for properties in the city.....actually, Singapore is starting to have this trend.
In the past, only District 9 (Orchard area) would command prices of S$3,000 psf, now it include District 1 and 2, (Marina, CBD), District 4 (Sentosa, Harbourfront)......I heard that Marina Bay Residences are going to be relaunched at S$2,500 to S$3,500 psf....
When is a Good Time to Learn How to Accumulate One Million Dollars?
Is it possible for a person who earns S$6,000 a month to become a Milionaire by age 39?
Yes, you can, Dennis did just that. Imagine I earned a total of S$1.08 million in Gross Income over 15 years, but I managed to achieve S$1 million at the end of 15 years… How did I do that? I’ll share in "How to Save and Accumulate One Million Dollars" on 3 Apirl 2010, 9 am to 6 pm.
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