Property News: Property Bubble Unlikely in Singapore: Citi The chance of a property bubble in Singapore is very slim as housing loans only account for a small portion of property values, according to comments from Citigroup which were reported in the media. Based on its analysis of government data, the countrys $203 billion worth of mortgages amounted to 24.2 percent of the value of residential properties in Q3 2013. “Nobody has walked me through the mechanics of a total crash of the real estate market for it to be compelling,” said Michael Zink, Head of Citi’s ASEAN operations. “Ninety percent of households (in Singapore) live in a home that they own, so where’s the bubble?” he asked, adding that many households here are financially very stable. [Full storey: propertyguru.sg/property-management-news/2014/2/37401/property-bubble-unlikely-in-singapore-citi]
Posted on: Wed, 12 Mar 2014 04:18:20 +0000
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