The volatility of the property market has shown signs of abatement and if there is any restoration of confidence, we'll increasingly see the "bet-on-prime" phenomenon. The price sensitivity of these tier 1 high end property in Orchard road will generally has a greater price elasticity in terms of rebound.
Other factors like the lower SIBOR rate will mean lower and cheaper mortgage rates which will in turn spur investors' appetite for property in Singapore - which over the long term will surely climb back from the low floor. Simple reason is with the scarcity of land coupling with a burgeoning population, land price can only shape up. I personally believe that the property market will remain buoyant with bargain hunting and a bottom out of prices will likely come at the second or third quarter. Generally, property in Singapore will unlikely lose its lustre for too long a time.
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