I think everybody has to agree that Singapore’s property market had passed the point of the steepest rises in rents and capital values.
This does not however, means the market is heading for a severe correction as we are still in the midst of remaking Singapore with many optimistic and positive events happening.
There is continuing promotion of the tourism industry. Such as developing two casinos, staging the up-and-coming first ever Formula One circuit night race, the Youth Olympics, as well as promotion of nontraditional sectors like wealth management, biomedical sciences, education and clean energy.
These endless positive changes will create higher value jobs and boost employment, which will underpin demand and asset prices. Demands for office and retail space remains reasonably robust.