The article ("Good time to invest in S'pore real estate: Minister" ST Apr 11 2007) is a big boost for Singapore property market. With foreign companies investing $5.4 billion in 2006, it clearly shows our economy is structurally and fundamentally strong.
With such strong confidence in the Singapore economy, we can see more foreign investors snapping up Singapore properties by the "bulk". A Chinese investor just did that by purchasing a whole block of 10 units of a new luanch development in Balmoral / Stevens Road area, amounting to $52 million.
The ripple effect for the rise in property price is also felt in the mass market condominiums. Kovan Melody located just next to the exit of Kovan MRT, has enjoyed an appreciation of 10%-12% since its launch in 2004. With the economy staying strong, I can only imagine further appreciation in property prices for this development. For the investors in Kovan Melody, they are enjoying a return of around 5%, and forseable higher return in years to come.
Good Investment!
Thursday, April 12, 2007
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