Economic Outlook for Singapore Property

August 30, 2008 // Posted by: Joel Teo // Category: Singapore Real Estate

The property sector in Singapore, specifically the residential condominium sector is facing a problem of oversupply. A recent property developer in Singapore noted that if the property developers could not hold back their current units and if the economy does not turn in 2010, the glut of property prices would cause the general market to plunge.

My view on the potential influx of money in the form of casino money and private banking money will mean that a lot of old and new money will start to flood the Singapore real estate landscape and property prices will start going the way of Las Vegas.

On a separate note as a testament to how much Chinese gamblers will inject into the economy, one has to look no further than to Sheldon G. Adelson of Las Vegas Sands group in Macau recently when he noted that gaming revenues in Macau eclipsed the state of Nevada. If one were to take a similar view that the same group of gamblers are on their way to Singapore, one would think that the Singapore economy will be turbo charging its way to certain success.

Only time will tell.