Various attributing factors had contributed to the falling property index or prices in the last 8 quarters, many had directed it to the last cooling measure introduced in 2013 namely TDSR.
Property market maybe not bullish but that doesn’t meant that there isn’t transaction at all. Property changes hands at a slower rate and more realistic prices, in fact some luxury property owners are existing at a huge lost. That’s a must buy property but how many are able to afford that kind of prices and knows such deals in the market? Even you do, would you take it up?
On the flap side of the bad news is that bargain sales are starting to surface as developers and sellers alike are lowering their expectation in their asking prices. There isn’t any better time to buy then now. Interest rate is confirm to stay low for a little more bit longer with uncertainty in the US.
So I would suggest that you should consider to put your money in property be it either resale or new launch.
If you think you are paying alot for a new launch project, you might need to talk to your salesperson on this matter to get the myth busted. It’s much lesser that what you think you are paying and you are going your wealth as compare to shrinking it by putting it in the bank…..
Downtrend in Private Home Prices Picks up Momentum
Business Times: By Kalpana Rashiwala The drop in private home prices gathered momentum in the third quarter. The Urban Redevelopment Authority’s latest flash estimates show that its overall private home price index is down 1.3 per cent from the second quarter. This follows a 0.9 per cent fall in Q2 and marks the biggest quarterly drop since the index peaked in Q3 2013. Read more…
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