I always have this piece of opinion for my clients as well as myself when I am in a position similar to yours where I am unsure if I should take actions.
I rather you take actions 1 day earlier than 1 day later, because by taking actions, you can make plans and react according to the situation 1 day earlier. You have more time to react and chart out to potential exits than those who did not take the action earlier.
Let's be frank, when the government introduced the various cooling measures, who is impacted more? The sellers or the purchasers? Sellers at most held back the sales process (where the property is still in their name) or make lesser, but there are more purchasers who are affected as the measures introduced so far have either result in the purchasers being made to pay higher stamp duties or being restricted in terms of the loan they are able to undertake for their property purchases.
In general, real estate assets in Singapore is going to appreciate over time given the sheer size of Singapore where land is scarce. If it does not mean to break the bank and stretch your financials just to make this purchase, I always believe it is a wise choice to commit to a purchase for your own stay.
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Regards,
Geryl LIM
Consultant - Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile:
+65-81577565 /+65-92787772
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