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Hi Pauline,

Thank you for your interest in the outlook of property marketing in Singapore. Given the existing pipeline of new units coming up in the market that is declining, prices are unlikely going to be affected much in general. Other than for units in the resale market where the home owners are overstretching themselves to purchase that may come up for fire sale, it is unlikely we are going to see any decline. As with all past cooling measures put in place, it is to curb the rising market instead of to make the prices drop, therefore a serious buyer will probably be able to get more reasonable prices than in a still hot market where owners can be only price motivated.

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi Pauline,

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. By the way, the property outlook should be staying or remain the same for this and next year and we won’t see much of a decline in pricing.

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

Hi Pauline,

Property prices are expected to continue to rise for rest of 2022. May I know if you're looking to buy or to sell?

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

Hi,

1) Let's look at the cooling measures implemented in Nov 2021:
a) Lower the loan amount in HDB loan from a maximum of 90% to 85%.
b) Increase ABSD for foreigners from 20% to 30%
c) Increase ABSD for SC from 12% to 17% on their 2nd ppty, 15% to 25% on their 3rd and subsequent ppty.
d) Increase ABSD for SPR from 15% to 25% on their 2nd ppty, 15% to 30% on their 3rd and subsequent ppty.
e) Increase ABSD for entity (company) from 25% to 35%.
f) Increase ABSD for developers from 25% to 35%
g) TDSR threshold will be tightened from 60% to 55%.

2)
1(a) is to address the high purchase price with high COV to restrict HDB SC family buyers from offering high selling prices from the seller. To ensure the HDB flat is not non-reasonably inflated.
All HDB buyers should exercise extreme consciousness in their housing commitment.
1(b) & (e) is to discourage foreigners and foreign entities to pump their money into our property market and cause an unreal price hike in the property market. This is to protect our property market from speculation.
1(c) & (d) are to discourage all ppty buyers to invest in property for SC & SPR. This is to encourage homeownership but not for investment.
1(f) is to remind the developer to bid GLS and en-bloc wisely and not sell over-priced products to the consumer. This is to protect buyers who really need to upgrade or buy private property for their own needs.
1(g) Lastly is to reduce leverage from the financial institute for buyers at borderline income range to consider cheaper alternatives for their property than to over-leverage. This will ensure no or minimum fire sales on the property when the economy is not as good as expected.

3) Thus you may see that all the measures implemented are to protect our local property market. Implementing all these measures makes our property market even more resilient compared to other investments.
This was also one of the main reasons why there are still so many people entering the market during the past 2 years. The pandemic did not affect and even there are growth throughout the last 2 years.

4) The rise in interest rate will cause the investment in the property market not to be as attractive as before. MAS decided to increase the current interest rate after the US treasury is to protect our currency from dropping value.
This is a necessary move to ensure that our saving from being inflated. The raise of interest is not only on mortgage loans but also applicable to investors pumping money into stocks and the commodity market.
In other words, it is more expensive for businessmen who need funds from the financial institutions in their business.
The TDSR in place already foresee this and thus kept the interest rate at 3.5% in assessing our mortgage loan. This is to ensure that your repaying capability is sufficient to handle an interest rate up to 3.5%.

5) Those people who understand all the above will not worry about the cooling measures and rise in interest rate. Therefore those who need to upgrade will still go ahead with their plan. Those who wish to place their funds in the property will not hesitate in doing so.
Because not everyone is willing to take risks in volatile stocks and the commodity market, and not everyone has a good business mind in running their business. They will prefer to invest in a simple way to protect their money from the usual inflation.

Hope the above answer 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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