Asked by Linda Seah
Hi, I tried to sell my 865sqft The Modules at Joo Chiat at $1400 psf. Despite exclusivity, the agent hasn't get a buyer. The agent requested to lower price to $1,100psf or $935K instead, under a $1.1M. He cited the reasons; SOHO life is TOP. Sycamore Tree developer on adjacent site has lowered their pricing. There are many new unsold units in East Coat going for less than $1,200psf. Banks has tightened -My Duplex is valued by bank at $1million. I was told that price will drop when 80,000 units are released within the next 2 years. Is Joo Chiat a good area? I had heard remarks about it being a sleazy place which makes the general family or investors avoid the area. Recently there was a crack down on vice which makes the place unsafe and am getting disapproval when I told my relatives that I live in JC. Should i hold on to the property until market turn or should i cut my loss before it is too late?
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