Putting my money where my mouth is

I have been asked by friends and clients whether it is a good time to get into Singapore property after the steep price rises of the last 18 months.

My answer is that though Singapore has experienced a doubling of property values in the last 18 months, I expect Singapore property prices now to maintain a steady 10% to 15% increase in prices for the next 5 years. There could be a breather to this growth rate in 2009 or 2010 where there could be a larger than usual increase of properties on the market (put up by speculative but not creditworthy deferred payment buyers) but on the whole, this should be absorbed by genuine buyers. (Just don't be crazy and buy those designer condos with designer prices!).

Today, I put my money where my mouth is (again!). I made a downpayment for a yet-to-be-built townhouse in the foothills of Mount Faber. At least my friends and acquantances can't accuse me of not following my own advice...