Asked by michael chua chua
I have been told that many buyers have recently bought highly prized condo houses purely relying on loans and for speculation purposes, ie they do not have money to back their purchases and will not be able to pay back the bank if there is a sharp fall in the value of the property. with the recent govt cooling measures ( to avoid the growing and bursting of the property bubble), I am confident that the market will be able to rid the non genuine buyers or speculators in the longer term. Therefore, I am incline to wait for 1-2 years when the full impact of the measure is felt and price stabilise before buying ie restoration of price based on appropriate value of property. Appreciate comment on my decision. Thanks.
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