7 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

According to URA's data, prices of private residential properties increased by 0.8% in the second quarter of 2021, compared with the 3.3% increase in the previous quarter to reach 163.5 points. This is expected to rise moderately in the next quarter.

Based on this data, if one were to enter the market now, one will be entering at a high. This will mean a sellers' market. If you need a home urgently, the current market will not favour you. A buyer's market will happen when the Property Price Index (PPI) falls. If you can wait, perhaps it will be wise to wait till we see a price correction in the market.

You will find our market outlook article here useful: https://www.propertyguru.com.sg/property-guides/property-market-outlook-pmo-2021-38009

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More

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Mark Ng S W
HI Do contact me at 97970200 to discuss more

Mark, your RIGHT choice
Propnex Read More

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Silvia Yang
Hi Sir/Madam

I will be glad to assist
Appreciate if you can contact me at (65) 96608508 or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More

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Aaron Chong
Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
9730 8455
aaronchong2774@yahoo.com.sg Read More

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Ling CK
Hi,

Resale Condo price is high?
1) Resale market suffered an impact after the 2013 TDSR/MSR cooling measure implementation.
2) In 2014 we saw that there is a negative year-to-year dip of ~5%. From 2015 onwards it slowly gains its footage and moves up healthy.
3) In 2020, due to the pandemic it suffered a 3% of dip, but in 2021 to date, there is a healthy growth of 2.44%.
4) According to past history showed that whenever there is a negative dip, the following year will slowly move up, and this will last for a few years.
5) If we look closely at the trend for the past 20 years, the resale market is more sensitive to the major events happening in the world.
6) Thus although might feel that the current resale market is high, in reality, it is just a feeling. It is clearer to look into a different regions, condos to understand the actual situation.

Cooling measures:
1) Most of the cooling measures implemented from 2006 to 2013, the biggest impact to the market is TDSR/MSR.
2) ABSD does have an impact but mainly is a technical adjustment so that buyers will be more cautious about the purchase. The volume of transactions dipped in 2019 compared to 2018.
3) Although there is an impact when a new cooling measure is implemented, the effect usually is mild. Because the government likes to keep the price under control but not to collapse the market.
4) So if you are planning to wait till the cooling measure before you act, I would think you will lose more than gaining.
5) Example, if the price moved up 10% after 3~4 years. A new cooling measure was announced, the price dipped 5%. Are you gaining or losing? Because so far, the dip is mild even TDSR/MSR implemented in 2013, it is a mere 5.52% to be exact.
Thereafter from 2015 to 2019 it gained 13.97% and dipped by 3.01% in 2020. So if you bought a property in 2014 and sell now, are you make or lose?
6) So you didn't buy anything in 2014, you wait till 2020 and buy because the PPI had dipped in 2020. You actually paid 10.96% more compare to what you bought in 2014.
7) Although the time of entry is important, time of exit is also crucial. A fact you can't be denied is property price is constantly moving upwards. So the later you buy the more you have to prepare to pay higher!

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Nick Tan
Dear Sir/Mdm,

Prices have been moving up and this is largely driven by strong domestic demands especially from HDB upgraders. There are still value buy in today's market waiting for you to discover. Please feel free to contact me so that I can understand your objectives and provide you with an analysis of the market.

Regards,
Nick Tan
(M) +65 9644 4854
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited 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.”
Ms Chia (Buyer)

“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.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick 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) Read More

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Robbie Chen Chee Howe
Hi,

Yes, I agree with you that prices are high. In fact, we are now at the historical high.

Depending on your needs and reasons for purchase, it may or may not be a good time to enter the market. If you genuinely needs a place for your family to stay, I will suggest you to buy now. Because it is definitely not advisable to keep on paying rent while waiting for the prices to drop. If you currently have a place to stay, and is in no hurry to purchase, then you may wish to keep a lookout for potential good deals, which I believe can still be found in the market.

If you're looking for cooling measures to kick in, in hope that prices will come down, then my suggestion is not to wait. Because the cooling measures may mean that it becomes more difficult for Buyers to purchase a property.

For example, LTV now is at 75%, which means you will have to downpay $250k for a $1m property. Imagine if a cooling measure comes in and LTV is being reduced to 60%, it will mean that to purchase a $1m property, the Buyer may have to downpay $400k. And if TDSR is being reduced from the current 60% to say 50%, it will also mean the Buyer's loan ability will be crippled.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More

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