At what price levels will market stabilize?

[Price levels]

Just picking your brain about the price levels were you think the market will find a bottom regardless of the timing.  As a reference lets asssume price levels in the different private segments now are:
- Prime: $2000 and above
- Mid segment: $1000 to $ 2000
- Low segment: $600 to $1000
(Please do not argue about the definition it is just to start a discussion) Thanks for your opinions

[Optimistic Man]

Prime at 1000psf  and the rest discounted accrodingly

[i am waiting]

for < $800 psf in novena area 

[forecast]

DJ MARKET TALK: Singapore Econ Growth To Be Near-Flat In 2009 -MS

0333 GMT [Dow Jones] Singapore economy to grow just 0.2% on-year in 2009 with risks skewed to downside, says Morgan Stanley; "we expect more quarters of negative growth growing forward, making this likely to be more than a technical recession, with a muted recovery, if at all, expected only in" 2H09 at earliest. Notes forecast for global recession at 2.7% on-year growth in 2009 vs 3.9% in 2008, expects Singapore to be affected by deteriorating external conditions and lack of domestic demand. Adds, is high probability MAS will widen SGD policy band or re-center midpoint downwards before April policy meeting.(VIN)

 

[Yes yes.]

I would think that @800psf in prime regions of 9, 10, 11 would represent fair value after this debacle when compared with the other financial centres.

for < $800 psf in novena area 

[3conom1st]

as usual, responses to such subjective questions are coloured with what Robert Schiller (in his excellent book 'Irrational Exuberance") calls quantitative anchors, i.e. current and very recent price levels.  quantitative anchors that make our brain 'feel good' are the ones we as human beings almost always hold on to, usually through the indifference, dismissal, and denial stages of the market cycle.  it is not until fear and panic set in that acceptance occurs.

quite simply, no one wants to believe that 9 & 10 prices could drop below $700 so they don't.

and don't talk about value and price as being the same.  they are not.  if prices can go way above 'fair value' (however you measure that), they can also go way below 'fair value'.

[Price contraciton]

My guess there will be a contraction of the range as prime will suffer most.  Few condos will comand prices around $2000 (maybe Orchard Residences, Hilltops, etc.)  Most of prime will go to the $1200 to $1800 range (prime areas in distric 9, 10, 11).  Mid tier $800 to $1200 (not-so-good areas in 9,10,11, Bukit Timah, new condos at East Coast).  Low end will suffer less: $800 below (the rest of areas)

[all these]

conjectures will be thrown out the window, once a distressed sale is made. When HNW individuals get wiped out of a bankruptcy case appears.

[not even 800]

I hate that hospital and communicable disease center zone in Novena - so many hospitals building there - seems so sterile and clinical. I won't buy Novena area even at 800psf.

for < $800 psf in novena area 

[Nice dreams]

Wow, I did not know there were so many desperate bears who had such wild dreams. But folks, dreams will remain dreams.

[Dr. Phil]

When below 350-400psf I will raise my eyes. Not necessarily with interest.
Check stock market. Unlike stocks, property has only local appeal.