29 Nov '11, 2pm

(CNA|sg|biz) Property prices in Asia heading towards correction

(CNA|sg|biz) Property prices in Asia heading towards correction

SINGAPORE: Recent reports have signalled that property prices across China and other parts of Asia are heading towards a correction. But regional developers and market observers say it is not all doom and gloom yet for the sector. The integrated resorts and international events like the F1 have brought the spotlight on Singapore. They have also piqued foreign investors' interest to invest in luxury properties, say analysts. But now investors and analysts are bracing themselves for a looming correction in the property market. And this time, even luxury properties will not be spared. Panache Management CEO, Alex Schlaen, said: "It will be very minor because the luxury (property market) didn't recover to the heights of 2007 versus the mass market which went way beyond the peak of 2007. This market will see a correction of between 10 and 20 per cent. The correction will probab...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

Comments

  1. 30 Nov '11, 4am

    It's High time due!!!....hahahahaha/bkk

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