Property News & Market Trends

How high is high actually?

Some analysts would compare the prices of Singapore's high-end with other developed cities.

In London, reputed to have one of the most expensive property averages S$7000psf! In Hongkong, prices went through the roof when the Peak really hits the peak at S$7000psf! So, what can be made out of these figures?

Orchard Turn pushes its price to S$4000psf for the Orchard Residences. So, really, how high is high? And how much further can it go? S$7000psf? Watch it, we're definitely not ready for that kind of pricey shock yet.

What is the actual living standards in London? How much does an average management worker makes? 3000 pounds? How much is their "expensive" homes? 2500 pounds psf? That's not very expensive, gauging from their earning averages, is it?

How about HK? Their earning averages are slightly higher, but how can their properties be priced so high? In fact, many a times, doubled what we paid for. So, should we use HK as a gauge? Think again.

There's a huge difference in our investment culture compared to Hongkongers. We are more passive and seek a home. Hongkongers will not rest till they have one to stay, and another to rent. On top of that, their population, including the chinese from mainland, is twice as much. The most extraordinary difference is - more than 70% of the properties are in private developers whereas, in Singapore, it's in the government's hand.

Nonetheless, there's only one way to go for property prices in Singapore - up! - Danny 'Bingo'

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