The good folks at Maybank Kim Eng have produced a report giving their take on the Singapore private property market outlook for the second half of 2012.
And in the spirit of things, the wife and I have gazed into our somewhat hazy crystal ball and these are what we saw:
· To better
exploit cater to demands for low quantum but tiny homes, developers will roll-out a new category of apartment termed "matchbox" units. These will be between 50 to 150sqft in size but at an affordable price of less than $500K.
· Greece will exit Euro 2012 and thereafter, the Eurozone. Spain and Italy likely to follow.
· Germany will win Euro 2012 but even the King of Europe is helpless to prevent the continual Eurozone crisis.
· A new law will be enacted which requires developers to demonstrate that areas such as planter boxes and air-con ledges are indeed "liveable" before these can be marketed as part of the total area of an apartment. Representatives from developer of new projects must live in these areas for a week to prove their "liveability".
· A new department within URA will be set up to handle the anticipated flood of complaints from shoebox/matchbox owners whose apartment values are set to plummet due to excess supply. This is despite previous government warnings and the fact that most buyers made their purchases with their eyes wide open.
Tongue in cheek? We hope so...
Click on the link below to read the Maybank Kim Eng report: