Times have changes and sellers no longer are so optimistic about their selling price. It has been formally been declared buyer’s market some time back after the cooling measures took place. Figures had shown that prices has soften and our government isn’t going to relax the cooling measure any soon.
That is the most awesome news if you are a investor who is looking to preserve your wealth through real estate. Prices has corrected to pre-bullish market and could be even lower if you decide to start hunting before others grab the deal and be feature in the news.
Distressed sales at The Sail, Reflections at Keppel Bay
The seller purchased the unit in October 2012 for $2.15 million ($1,999), which translates to a loss of $400,000. On top of that, the owner has to pay a 4% seller’s stamp duty, which means an additional loss of $70,000 on the sale. The seller is believed to be an Indonesian who wants to offload the unit and cut his losses. See more…
Image from theedgeproperty.com.sg