Kim Eng Holdings Ltd.’s Singapore-based property analyst Wilson Liew said price increases were more subdued for landed and luxury properties only because buyers in that segment typically tend to exercise more caution.
“Because of the absolute quantum that’s required to purchase such apartments, some people are waiting,” Liew said in a phone interview before today’s price statistics. “Buyers want to see the integrated resorts become fully operational because they’re targeted at bringing in the high-rollers. If they put Singapore in the limelight, more people will start putting their money in.”
Genting Bhd., Asia’s biggest publicly traded casino operator, may open its $6.6 billion resort in Singapore before the end of 2009, CIMB Investment Bank Bhd. said Aug. 4 after a recent visit to the site, while Las Vegas Sands Corp. aims to open its casino-resort on the island by February.
Singapore Tourism Board Oct. 12 stuck to its forecast of attracting 17 million tourists to the city-state by 2015 and tripling tourism revenue to $30 billion.
