Singapore property market earth defying stance is simply incredulous. It is so incredulous that many folks are telling me that it is best to sell away all stocks on hand to buy a 2nd investment property in Singapore. Look at Tanah Merah, the latest integrated development Seneca Residences is selling at a whopping S$2,072psf on average on launch day itself. AMO Residences in Ang Mo Kio also over S$2,000psf.
Then look at the lackluster performance of equities over the past 3 years, no wonder many folks are lamenting that buying and holding property is way better than holding stocks. Even the rising interest rate environment to combat inflation is unable to contain the exuberance of the property bulls of Singapore.
Personally, I am not joining the fray. The only time I will consider property as an alternative investment is when our government removes the Additional Buyer's Stamp Duty ("ABSD") which will be a clear signal that the property market is finally in the doldrums. Or even better, if you are one of the three lucky winners of the S$12Mil Toto Hong Bao Draw last week, then the current out of the world property selling price does not matter anymore. 😅