Singapore Profit

With great uncertainty in the US market, some people are holding back their property purchases. The Singapore property market in the last quarter is much slower than the first two quarters before the crisis hit. It seems that the problem may get even bigger.

Initially, the subprime problem is faced by people with poor credit, or people who are in the lower income bracket. Now, apparently, even the richer ones are affected. The monthly payments have risen to more than what they are getting for rental. Some people might have bought too many houses, and they are having problems with cash flow.

Since these people are richer and they may care more about their faces, they usually get agents secretly to sell off their properties quickly at a loss without getting the sale termed as foreclosures.

What does this mean for Singapore? Perhaps those who are wishing for cheaper homes simply have to wait for a few more months before prices tumble.

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