Monday, December 9, 2013

Right on the mark!

Hi guys, its been such a long time! I have been traveling a lot, in fact, I was in Bangkok till yesterday. I have been so blessed that I caught the two days on calm in this protest-happy country. I do wish them all the best as they are a very lovely bunch of people. I have been fighting crisis after crisis, but it is the faith that the Good Lord has given me opportunities to do all this that drives me on. I have often reflected why I have to face so many trials, I always try to do the right thing but I suppose different people have different perspectives.  Life is challenging but I suppose you have to bulldoze your way through.

In my last entry, I shared with you that the residential sector will come down and well I have been right on the mark. The real estate sector is dependent on cheap liquidity and the government cooling measures has prevented further speculation. And with foreign demand cooling off due to additional higher stamp duties, the market will face intense headwinds in the months ahead. I know that many bought Duo(the combined Temasek and Khazanah development) which did very well at launch but those who are successful in getting units should be rather careful at this stage. I really do not like the feng shui of the place and for $2000 plus psf, I have many other options that are far more attractive.

The world’s economies seem to be reporting better economic numbers. This bode well for Singapore due to our reliance on the international economies. However, with money flows trending the other way around as they hunt for better returns, well I am not too positive on asset prices.

Till the next blog, take care and God bless!

Your Friend

Andy Ong