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Experts, I am an Singapore PR and planning to buy house. When read the news about lifting of cooling measures; many experts are guessing that Govt will lift cooling measures sometime later this year. I am confused about whether to buy house now as I can afford prices or waiting until cooling measures are lifted. What do you all think? Thanks.
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6 Answers

Hi,

What if the cooling measures do not adjust at all for 2-3 years? Are you willing to wait it out for your plans?
All these are calculated guesses and it is still up to the authorities whether to adjust them or not. My humble opinion is that even if they are adjusted, it will be small tweaks. Since you already can afford and have saw something you like, you can nego a price that factors in the perceived potential adjustment %. I will be glad to share my inputs and assist with your plans further. Thanks and hope to value-add further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
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Hi, firstly no one could predict or time the property market as we are not God. And let me give you a simple analysis... If you are not planning to buy during a down season like this where developers are slashing off their prices, with the same mentality with those sellers of resale unit and suppose the news came thru where the government lifted the cooling measure by 3rd or even last quarter of this year, what do you think will happen? The answer will be we will see practically all the developers will start adjusting their prices overnight which in turn would mean that you will be required to borrow a higher loan amount from the bank. Hope my explanation makes sense to you.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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GAN ENG JOO ONASSIS
Hi,

Re: Our Preferred Experienced SG Realtor

Now we have a number break record transaction for HDB. Latest 5A HDB above Clementi closed at 900K even with cooling measures.

Which HDB or condo you are keen to explore :)

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Dear Sir/Mdm,

After several rounds of cooling measures, the prices of homes have retreated. However, I do not expect the cooling measures to be lifted completely as our government would not want to risk a repeat of history when prices shot up within a short period.

In my opinion, there may be a tapering of cooling measures instead. However, now may be a good time to start as it is a buyer's market and developers are willing to throw in good discounts for new projects!

May I know which area are you looking at? Please feel free to call me at 9644 4854  for a chat! Thank you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

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“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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Dear Buyer
Let me assist you through the entire process. I would be pleased to give you a simple analysis. No one can time the right market. As long as you are ready, currently there are many good buys in the market.
Cheers and look forward to hear from you.
I can be reached via 91442664 
Tricia Tan 91442664 
Propnex Read More
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Hi there!

We are not fortune tellers and we won't know for sure when the cooling measures will be lifted or amended for a soft landing. Despite repeated calls from REDAS & developers for tweak of cooling measures, the Gov spokesman (now Mr Lawrence Wong) have highlighted that it's still early. Latest article http://www.straitstimes.com/singapore/housing/too-early-to-lift-property-curbs-lawrence-wong

Singapore is one of the strongest economy in Asia, and we are one of the fastest country to rebound back during the 2008 crisis. Don't forget the fact that 6.9 M is our population target.

During the downtime, many are fearful to buy/invest for fear of prices falling further or greed for the market to drop further to capitalize.

There is also another article that says that prices will be 30% higher without the existing measures.
http://www.todayonline.com/business/private-property-prices-would-have-been-30-higher-without-cooling-measures-study

So today, you as a SPR buying into your first house, you need to pay ABSD of 5% on top of all other fees that you would have been paying without the measures. If the study is true, you are actually getting 25% discount now.

The question now is that, how long are you able to wait? What kind of property prices we will be talking about when the Gov starts to announce the changes of the measures, will the sellers/developers react and adjust their prices upwards? If the global sentiment is poor, where will be the rich be diversifying their funds? What do you see Singapore will be like in 10-15years down the road?

Hope this helps!

John Tan YS
ERA Realty Network Pte Ltd
R012788H
facebook.com/johntys
powersginvest.com
 +65 9633 8431  Read More
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