Wednesday, 17 September 2014

Down Down Down the property in Singapore

It was not long ago when the property prices in the tiny island state shot up 100% since 2008. A series of cooling measures ensured that speculators will not find it worthwhile to enter the market anymore. Huge release of supply of properties through the HDB ensured that the nation's citizens have a roof over their head. 

Channelnews asia reported that the number of mortgagee sales at property auctions in Singapore jumped sharply during the first three months of this year. Investors... standby - sign that owners in financial difficulty are finding it harder to dispose of their properties and you can find distressed properties. 

Bankruptcies in Singapore have also risen, she added, citing statistics from the Ministry of Law that showed the number of people made bankrupt rose by 14 percent to reach 1,992 in 2013.

2015, 2016, lets bide our time for the real-estate correction. 

Wait... does it mean other countries would be affected as well by the pessimism?


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