Singaporeans who have traditionally looked at property investing as a sure way of making money have been disappointed by its slow recovery. Excerpt of report from Channel NewsAsia:
Singapore property to see only gradual price rises as trends change: consultants
While some are rejoicing that the Singapore residential property market is finally turning around, others wonder why the rebound is so weak and why it has taken so long. After all, property markets around the region have been rising by double-digits over the last year. What makes it all the more surprising is that while Singapore's property market is the slowest to rise, its economic growth has been among the fastest in the region this year.
Sadly, property consultants say this is set to continue, as local property trends are changing.
Singaporeans need to wake up to the fact that property is no longer lucrative. You can't expect to make money just by investing like your father or grandfather.