A first look at Singapore’s real estate market

Let me start this article by diving right in and showing you the real estate prices in Singapore, quarter by quarter, as collected by the Urban Redevelopment Authority.

Pretty interesting right? Back in July 2009 I was actually thinking of buying a property there to take advantage of the prices finally going down. After a handful of visits I had to give up: things were becoming way too crazy for me. Prices would suddenly go up between the moment the ads were posted and the moment I would set a foot in the property for a visit. In one instance where I was trying to negotiate a condominium unit, the seller decided to raise his original asking price, rather than lower it to reach me halfway as you would expect in any negotiation. For the record, that property still hasn’t sold one year later, but the price has been raised again…

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