Hello Melvyn,
this is a tricky question indeed. One thing's for sure, no one can confirm which way the market will head. As majority of CBD projects were bought before 14 Jan 2011, owners will not be affected by new regulations. The challenge lies in the buying aspect. Buyers now are sitting on the sidlines waiting to see how the market will react. Buying volume will definitely go down. This will be evident in 2nd quarter of this year.
But whether or not prices hold will depend on whether sellers are willing to hold their units. And if the sellers are unable to to get their asking prices, they will turn to renting out their units. With One Shenton, Lumiere and The Clift all just TOP-ing, an over-supply of rental units will be in the CBD market. Lets not forget that Icon, MBR, The Sail, have many units left un-rented. Rental prices might dip due to this.
In my opinion, I feel that prices will dip a little together with buying volume. Melvyn, since you are asking this question, I believe you are an owner of a CBD property. In such a market, if you are flexible and willing to adapt, there are simple strategies you can adopt to make the most out of your investment : )
Have a great weekend!
Dalen Chee
email : dalen550@gmail.com
mobile :
9695 2550
my web : www.96952550.com
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