Hiap Hoe

[sykn]

I observe the Australian newspaper noting that Hiap Hoe's foray adds to concerns that the city (Melbourne) will soon witness an oversupply of units. Having lived in Australia for nearly a decade, my understanding is that Australia is so big that once the city gets too congested, people just build further out from city centre, hence very hard to get a situation where prices of properties sky-rocketing (with very few exceptions). But the influx of the rich China migrants into the major cities may well change the dynamics as it has been reported recently that housing prices in major cities like Sydney have risen abnormally fast owing to influx of migrants. So Hiap Hoe and other Singaporean developers may well be right, but the jury is still out in my humble opinion.