The original meaning of ghost town refers to a village or a city that has once been populated but is abandoned due to bad economy, high unemployment, or natural or human-caused disasters. In recent years, the media have given ghost town a new definition: a new city that has been built and ready for resident occupation but no one moves in. It has been abandoned even before any … [Read more...]
The stick behind the dangling carrot
More than 52,000 turned up for the four-day Singapore Motorshow last week. It was not surprising given Singapore’s car-worshipping culture. Be the first to see the latest car models Two weeks ago I received an email invitation from my car manufacturer. The marketing message read like this: "(Car company) invites you to the Singapore Motorshow from 16 to 18 January. Be the … [Read more...]
3 property investment mistakes you should avoid in 2015
No matter what your new year resolutions are, it’s time you said goodbye to your bad habits in property investment. If you are buying a private home in 2015, avoid making these three common mistakes. Mistake #1: Rush in and get burnt. According to URA, there are 88,627 uncompleted private residential units (including ECs) in the pipeline. As at 3rd Quarter 2014, 28,120 … [Read more...]
URA’s reply for “Public deserves reliable, consistent data”
I have written to The Straits Times Forum regarding the problem of inconsistent and incomplete private property transaction data. Below is my letter (Dec 18, Thursday) and reply from URA (Dec 23, Tuesday). Public deserves reliable, consistent data Published on Dec 18, 2014 THE computation of the HDB’s resale price index has recently been improved to give a more … [Read more...]
Achieving a meaningful market correction of property prices
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam told the press that there is "some distance to go in achieving a meaningful correction”, hinting that the property cooling measures are here to stay. I am surprised by Mr Tharman’s creative use of the word ‘meaningful’. It is an adjective or a descriptive word that leaves much room for imagination. It is up to … [Read more...]