Singaporeans make it big in real estate

Singapore's rich have taken a more traditional path to their billions by that most basic of economic activity - real estate. Half of Singapore's 16 billionaires on the Forbes list derive their wealth from property development and hotels. And on Singapore's Top 50 Rich List, released by Forbes last August, nearly half were property tycoons too.

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Where is property price heading?

The two biggest items in determining the price of a condominium are Land Price and Construction Cost. With land price averaging at $700 per square feet per plot ratio and the construction cost approaching $300 per square feet, the breakeven price is more than $1000 per square feet regardless of the location of the project. So, with Land Price and Construction Price at these levels, where do you think the selling price is heading? Would you expect the land price and construction cost to come down, moving forward? If the answers are no, then how would you expect the selling price to drop below $1000 psf.

Selling price of more than $1000 psf is not unreasonable and will be here to stay.

 

Breakeven Price

 

 

Excuse me! Are you an Easterner?

District 18, comprising Pasir Ris, Tampines and Simei, is one of the most self-sustaining regions in Singapore. There are plenty of good schools, malls and eateries. Downtown East and Pasir Ris Park provide a perfect getaway for families without having to get away. Aloha Loyang and Pasir Ris Kid Kampong will keep the residents occupied during the weekends.

 

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