Dear Punggol owner,
I would like to know in the long term, would you be expecting to return to Singapore? If the answer is yes, I would still encourage you to keep your existing unit and rent it out should you be a Singaporean. Indeed the short term market trend is indicating that prices may start to decline but in my personal opinion, the government cannot afford to allow rotting of prices as it would be disaster for all HDB owners to hold on to negative assets. I am unable to quote you any form of numbers in percentage if you really ask me but the baseline should be even when you are selling then, it should still be a positive sale.
The issue here could also be, should you decide to sell now, it may take quite a while to find the right buyer, given that there are currently ample supply of resale units in the market for buyers to choose from.
Regards,
Geryl LIM
Real Estate Director
Masters Of Real Estate (L3010548F)
CEA Reg R014783H
Mobile:
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Email: geryl7772@gmail.com
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What it means for me is that if I decide to leave singapore in 2-3 years or have to leave singapore due to recession or problem with job, if I can't rent then I will have to sell it without having an opportunity to wait for better market situation.
If I sell and move on rent now, I will probably be paying around 30k in rent annually. So two year rent would be 60k, do you see the possibility of prices coming down by more than 60k in two years?
Comments appreciated by all agents