Private Residential Property


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Housing supply has always been tight in Singapore, the world´s most densely populated country. With 5,100,200 inhabitants lived in an area of 580 square kilometer or approximately 8,800 people per square kilometer. 20% of them lives in Private Residential Housing. The rest lives in public housing.

As of end 2012, the Private Residential Property Price Index (PPI) have continued to defy gravity and have even accelerated to 212. The re-acceleration starts in second quarter of 2012.

As of end 2011, private property prices are 13% above the 1996 peak and 16% above the more recent 2008 peak.

2010 to 2011 prices rebounded and within 2 years the private property index gone up 60%

In 2009. Towards the end of 2008 saw private homes fell off a cliff and continue till end of 2009. Values dived 20% from the year earlier.

In 2008. The index peaked at 175. September 2008, Lehmen Brothers (bank) collapsed and trigger a worldwide financial crisis.

2004 to 2008 Singapore Government tighten the supply of new housing and started to relaxed restriction to home buyer. Immigration policies was also relaxed. Singapore has new cabinet with Mr. Mah Bow Tan at Ministry of National Development (less new housing), Dr. Ng Eng Hen at Ministry of Manpower (more PR and FT) and Mr. Wong Kan Seng at Minstry of Home Affairs (more new citizens).

In 2003. Saw the outbreak of SARS in the region and the Gulf War in Afganhistan and Iraq.

In 2002 October, Singapore in recession.

2000 to 2001 recession affected the European Union. Inflation struck the Eurozone for a few months in summer 2001 but the economy deflated within months. Collapse of the 2001 dot Com bubble and the September 11 Attack. Singapore Government annouced ramming up the construction of 8,000 flats may also have contributed to downward slide.

In 2000. The index peaked at 140.

1996 to 1998 the prices of properties drop by half. The property crash occurs when the government tried to stem this bubble by introducing more land sales to increase the supply. The 1997 Asian Financial Crisis acting as the catalyst, the housing bubble burst and the property market crashed.

In 1996. The index peaked at 180. The Singapore property market began to overheat. New HDB EC projects were launch and they were 10 times over-subscribed.

1986 to 1996 property rises climbed 6 folds. Everyone seems to jump into this bandwagon by flipping properties – 3rm HDB > 5rm HDB > Condo > Terraces > Bungalow. In 1989, the government allow PR to buy HDB homes. The 1990 Gulf War saw a small dip in the property price.

1984 to 1986 world economic reccession hit Singapore. Property price dropped by 30%.

In 1981. The index peaked at 50.

1976 to 1981 property prices shot up 4 times. A 3-room HDB apartment purchased for $10k in 1970s is worth $40k by 1980s.

In 1976. The government allowed foreigners to purchase flats in building of 6 levels or higher.

In 1974. The worldwide oil crisis in United States caused property price to fall back to the level of 1972.

In 1972. Property prices spiked up sharply as forigners began to snap up properties.

1960 to 1970. 12,000 HDB 3-room (600 sq. ft.) apartments were built.

In 1960. HDB formed to provide subsidised, mass market apartment housing to citizens

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