03 Dec '17, 1am

China factor in property market exuberance

China factor in property market exuberance

I was at the Queen Victoria Market in Melbourne recently with a friend, browsing, when I came across a stall selling boots. It's summer in Australia, but my Singaporean habit of thinking ahead got me thinking of stocking up on winter boots ahead of time. The prices for the iconic Australian wool-lined boots looked reasonable. "Will these prices go up in winter?" I asked the stallholder, expecting him to say Yes in hopes of making a quick sale today. "Not this time," he said. "Maybe a little bit other times, but not now. Business is no good, I have lots more stock in the warehouse, I won't be raising my price next year." (Winter is June next year.) My friend joined in the conversation and soon the stallholder was explaining the situation. "You see this stall, that stall?" he said, pointing to neighbouring stalls selling apparel or household goods. "From China. They come, th...

Full article: http://www.straitstimes.com/opinion/china-factor-in-prope...

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