Property prices in Singapore have been rising rapidly for the last few years. Investors’ sentiments on local properties remained upbeat even after 8 rounds of cooling measures implemented by the government. While the latest round of cooling measure (announced by the Monetary Authority of Singapore on 28 June 2013) has taken a toll on property transaction volume, the demand for Singapore properties remain strong.
We are currently at the peak of the Singapore property cycle since 1965, with residential property prices at an all-time high. Despite the sky-high prices, there are no shortages of investors snapping up local properties. These investors are now paying for prices many years ahead, making it near impossible to have decent investment returns. Many are still buying and hoping to cash out the capital gains on their properties within the next 3-5 years. So, are these buyers investing or are they gambling?
Kelvin Wong is a millionaire investor, author, and landlord in 3 countries. He currently owns a multi-million dollar property portfolio in Singapore, Australia and Malaysia. With his assets generating multiple streams of income to sustain his desired lifestyle, Kelvin became financially free at 39. He holds a Bachelor of Business (Dean's List) degree and a Diploma in Business Management. Kelvin writes about building wealth and achieving financial freedom in his free time.
Copyright © 2011 Kelvin Wong
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