12/08/2011

Getting to be more like Malaysia

Several years back there was a property boom in Johore. The developers built and built, huge estates of landed properties for sale at a fraction of the price in Singapore. See also salivate. Many Singaporeans went in to buy and buy. Then the citizens complained. Singaporeans buying up everything and pushing up the cost of living.

Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.

Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?

12 comments:

Matilah_Singapura said...

Only stingy, opportunistic capitalist assholes like my good self like collapsing property markets.

Everyone else loves, and fuels property booms.

During a boom, who benefits?

Property owners and sellers, agents, insurance brokers, contractors, developers, financiers, seminar creators, financial book authors, financial engineers, lawyers, conveyancing agents, logistics and transport, furnishers, interior decorators and products-- like kitchen, bathroom, bedroom, tiling, landscaping... Etc etc, electricians, plumbers, painters, removalists (people moving home)... And so on.

When property markets collapse, and all the above MATI!!

Just Mumbing To Myself said...

Can't wait to see that day!

Why are undertakers not public listed? Sure is going to be a value added stock in the near future when those asinine property speculators meet their doom.

Downstream, the funeral accessories shops would also be doing a roaring trade by providing paper replicas of all the deceased's dream condos to be burnt for them!

Bring it on!

Their ruin is an opportunity for our sons and daughters to get a decent roof over their heads at a mortgage they can live with.

I can't wait to see that day and mark my words, it's not very far off!

Chua Chin Leng aka redbean said...

Hi Mumbling, welcome to the blog.

Some don't believe that property prices, like economic cycles, will go from bust to boom to bust.

With the world financial system in such an unhealthy state, who knows what is going to happen tomorrow.

Anonymous said...

"Why let the situation get so bad before doing something drastic?"

Why indeed! Doing something earlier means land bids would not be so lucrative. Who suffers when the boom collapsed in Malaysia? Not the Government. Same here.

I hope some property developers really go kaput and some speculators really get stuck with properties with negative values. Then it is time to buy for some others.

You see, in any situation there will be people making money and others forced to sell their backsides.

Anonymous said...

Last I heard Malaysia is also getting to be more like Singapore too, politically, with the ruling party starting to give out goodies before elections.

Trouble is, Malaysia is nearly kaput, just depending on the oil revenues from East Malaysia, while Singapore is beginning to realise that goodies are getting to be a stale bait to win votes.

Wonder who is getting more like who. In Animal Farm, the animals and humans all look alike in the end.

Chua Chin Leng aka redbean said...

Malaysia may be getting more like us. But they will look after their people first and their cost of living will be really affordable. Not the same kind of definition as our affordable.

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