24 Feb '14, 4am

Property bubble unlikely in Singapore: Citi - Property Auctions News, Property Investment

“Nobody has walked me through the mechanics of a total crash of the real estate market for it to be compelling,” said Michael Zink, Head of Citi’s ASEAN operations. “Ninety percent of households (in Singapore) live in a home that they own, so where’s the bubble?” he asked, adding that many households here are financially very stable. In addition, about 82 percent of Singaporeans live in public housing and most of them have already paid off their mortgages, noted Singapore-based Zink, who has lived in other Asian cities such as Jakarta and Guangzhou. “The potential for a bubble has been greatly deflated” thanks to the government’s series of property cooling measures, especially the TDSR framework imposed last June, added Nicholas Mak, Executive Director and Head of Research at SLP International Property Consultants. Following a recent Forbes article claiming that the city-s...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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