News: Lee Kuan Yew forecasts no property bubble in Singapore yet
Lee Kuan Yew forecasts no property bubble in Singapore yet
26 June 2010 | Temasek Review
PAP strongman and Singapore’s self-proclaimed “forecaster extraordinarie” Lee Kuan Yew has peered into his “crystal ball” again to dispense his usual “pearls of wisdom” to his hapless subjects.
In his latest “forecast”, Lee said that there is “probably” no bubble in Singapore’s property market at a dinner hosted by the Association of Banks in Singapore.
A lawyer by training, Lee did not provide any concrete evidence or statistics to substantiate his statements except that foreigners still see Singapore properties as “affordable” due to the low interest rates.
“Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to pay, Singapore is cheap, let’s buy it. And apart from landed properties, they can buy into any condos,” he was quoted as saying in the Straits Times.
