Every day we read in the media all sorts of property data, research findings and market forecasts. They come from different organisations, authorities, industry stakeholders or government departments.
Have you ever wondered how these people come up with those numbers and insights? How reliable are the information and data they provide? Can you trust the official property data released by the government?
I will share with you how the Chinese provincial governments manipulated property price data to show perpetual market growth that fooled all the western media except the Chinese themselves.
We are going to discuss the following in this video:
1) Why market predictions are inaccurate?
2) How authorities come up with their data?
3) Why no property data is 100% correct?
You can now watch the podcast below. If you want to read the script, turn on the “cc” button – the leftmost button at the bottom right hand corner.
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familiar? Very contradicting!
Foreign property buyers on the rise despite hefty ABSD rates reported in Oct
https://sbr.com.sg/residential-property/news/chart-day-foreign-property-buyers-rise-despite-hefty-absd-rates
then suddenly roti prata
Condo Purchases By Foreigners Fell Sharply In Q3
https://www.propertyguru.com.sg/property-management-news/2018/12/176785/condo-purchases-by-foreigners-fell-sharply-in-q3
I had a big problem with that SBR article quoting Huttons’ findings on “Foreign property buyers on the rise despite hefty ABSD rates”. I unmasked their crap findings on my facebook page. Let me re-post my comments below:
Another article from a property agency that plays with numbers. 5.5% in Q3 is higher than 5.2% in Q2. So foreign buyers are on the rise – which is totally misleading.
1) The SRX Non-landed Private Residential Resale Report shows that the sales volume in Q2 is 4,303 while Q3 is only 2,505. Even if new sale is included, Q2 is 2,366 and Q3 is 2,835. Which number is higher: 5.2% of 6,669 or 5.5% of 5,340?
2) Foreign property buyers is 6% in 2017. Now it is down to 5.5%. So how can it be “on the rise”?
3) Projects like The Tapestry, foreign ownership is only 1.3%. If not because of Marina One, the percentage of foreign buyers is even lower.
4) Unlike other countries, Singapore’s “foreign buyers” include foreigners residing in Singapore for a long time and still waiting for the approval of their PR. Do you see foreign investors at the sales galleries, or Singaporeans?
Thank you. Yes sometimes reports are aint just reliable.
Btw, can you do some analysis on PES, Balconies and bay windows? I understand that PES and roof terraces are not part of the GFA prior to 2014. Does that mean that development build before 2014 balconies, bay windows , PES , roof terrace are not part of the GFA? Thank you
URA already comes up with a comprehensive briefing book. Read the URA Gross Floor Area Handbook here -> https://www.ura.gov.sg/Corporate/Guidelines/Development-Control/gross-floor-area