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Let's get real with real estate
It can seem infallible but returns can be hit, as in current downturn
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From January 2000 through April 2020, the worst drawdown for Singapore real estate was over 67 per cent between July 2007 and August 2012.
ST PHOTO: CHONG JUN LIANG
Ben Charoenwong
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For decades, real estate in the financial hubs of Hong Kong and Singapore seemed infallible. Critics of such "conventional wisdom" gave the example of the recent financial crisis, but this was brushed aside as a "once-in-a-lifetime" event that could not happen again.
But it has.
