"Similar transacted price trends can be seen for most other properties in the OCR and CCR neighbourhood whereby there is very little price increase for CCR properties bought in 2009 and now, while there is a huge increase of almost 85% or more for OCR properties.
You will be even more confused if you know that during the 2007 property price peak, similar OCR property was only transacted at about $700 psf while similar CCR property was transacted at >$2500 psf! "
I would like to elaborate further, again poking hole at the Channel News Asia's news article that says:
"Property prices have risen 60 per cent over the last four years but have declined by just 3.3 per cent over the last three quarters, MAS says."
Actually, when I look at 1 of the CCR properties I am eyeing, the unit had transacted at about $1500 psf in 2009, went up to about $2800 in 2011, and it was NOW down to about $2100 or a drop of about 25% !!!
In Singapore, generally we regarded a property price drop of >20% as having considered that property price has crashed, and that is it - CCR property prices have already crashed!
However, when I look at OCR properties in general, they don't seem to have gone down at all! In fact, the unit had transacted at about $450 psf in 2009, went up to about $900+ in 2011, and went up further to >$1000 NOW !!!
These general trends are true for other properties in CCR and OCR neighbourhood, so much so for "have declined by just 3.3% over last 3 quarters" according to the news article!
Does the above give you the impression that such lobe-sided effects could be because the implemented property cooling measures are pretty lobe-sided as well?
So, if you are truly rich and can hold for long-term, time to cherry pick CCR properties!
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