Tan Kin Lian
|
| Subscribe to Tan Kin Lian's Blog |
| Visit this group |
Labels
- Credit linked notes (246)
- Free Market (11)
- Insurance (135)
- Investments (117)
- RED Portal (24)
- Survey (66)
Blogs
- Civic Advocator
- Diary of a Singapoer Mind
- Indexfundfan @ Indextown
- Kopitiam Forum
- Money Talk
- MoneyTalk & ETF
- National Solidarity Party
- P65 Blog
- Reform Party
- Retrenchment
- Singapore Alternatives
- Singapore Blue Chips
- Singapore Dance Theatre
- Singapore Democrat
- Singapore Short Stories
- Spirit of Enterprise
- Temasek Review
- The Online Citizen
- The Singapore Recalcitrant
- Transitioning
- Wayang Party Club
- Workers Party
- Yawning Bread
Credit Linked Notes
7 comments:
Mr. Tan,
Based on your years of experience and also after going through a few down turns, what is your feeling of the current property market now? You think the market is picking up and can hold? Every new project launch is being snatch-out within days and reseller is upping their selling price too.
My advice is:
1. Do not speculate in property
2. Buy a property for your own occupation.
3. Buy for the long term
4. Do not over-invest in a property, as you need the savings for other purposes.
5. If you wish to invest in property, buy property shares or REITS. Avoid the hassle of being a property owner and renting out the property.
As an old man living through the complete history of the HDB, I have seen HDB prices in some estates suddently jumped sky high because of certain happennings only to come down to earth later on.
For example, Parkway Parade was the rage when Goh Chok Tong became the PM. Next, Bishan became the rage because Raffles Insititution was sited there. Then Toa Payoh was the town to be in because the HDB head office was sited there.
All these so called attractions are really psychologically induced, by property agents if I may say so. Imagine buying a flat at two thirds the price of another just opposite the road. Yet people go for the more expensive flat, a bit of ego inflation perhaps, but at what price?
Lost Citizen
Many people ignore black swan events as they thought the possibilities are extremely low. The same thinking is behind the property bust in Japan, and more recently in the US and UK. The boom is fueled by LOW INTEREST RATE, easy credit and financial leveraging; the hallmarks of today's failed global financial system and Wall Street's bad behavior.
Singapore government adopts a highly pro-business approach; like it or not, we cannot escape from the harsh realities of the world economy. We engage and play by the same rules of wealth creation.
The easy and painless way is to blow asset bubbles. Property is a safe bet in Singapore; most believe. But the day of reckoning is getting near. Do not believe what you see, believe what is hidden from your eyes.
Thanks for all the wise comments. Will take heed of all the advice and move ahead with cautions.
Anon 12:38
LKY is already 86 years old. I believe the next 5 years will be very eventful for Singapore. Many big things can happen, for better or worse, including property value.
So just wait and see.
I think LKY will live to 100 years! Long live MM :)
Post a Comment