Wednesday, January 2, 2013

The Property Market in 2013.

Hi guys, I have been traveling the world in the past month going to 7 countries just in the month of December. Many Singaporeans do not appreciate what they have at home. Whilst Singapore is not perfect, it does have many things going for it. We complain about the most ridiculous of things, what’s wrong with announcements in Mandarin in our MRT stations? The Taiwanese has the announcements in 4 languages including Hokkien. For goodness sake, we are trying to be a cosmopolitan city, we need to have far bigger hearts and be truly international in our mindsets. Enough of that.

Our property prices have gone from highs to highs in the last few years causing many to panic that they are losing out on the bull run. The cooling measures in the residential sector have caused a potential bubble in the commercial sector. I am not complaining as the year 2012 has been a fantastic year for me till the blips I encountered at the end of the year. I have seen my equity values go up multi-fold, and the wealth that was created was nothing short of amazing. I am looking forward to my hotel opening in the first quarter of this year and I feel good great as it will be a labour of love bearing fruits.

The year 2013 will be a year of extreme caution. Please be very careful of the investment moves you are about to make as this year can make or break your financial futures. There are developers who are talking up the market so be very careful of what you are getting into. I just gave up on a deal recently as I cannot get clearance from the relevant authorities. Well, you win some, you lose some.

I am starting to look abroad more aggressively as I am a bottom feeder as I explained to you many a times. I look for value and I am finding it tough to look for bargains. I will share more in the weeks ahead.

Your Friend,
Andy Ong