Asked by Guru Rock
With the New rulings, is condo pricing going to drop soon? should i wait?
1015 views
3 Answers
Hi
My views defer from the rest .If i did not hear wrongly , MBT mentioned that up to 50% of the pte residential bought by mass market may need to be sold within 6months.
This will have effect on pricing of both pte and HDB (more impact).
MOst of the mass market moving forward will need to think twice and also the new measures will weed out a lot of mass market buyers.
However the prime pte properties may have mild impact as these people have holding power and able to wait. So long as the economy still grows prices stablizes. However if there another crisis like the Asian FInancial Crisis comes out, foreign buyers may flee SG market again (chances are slim as recent global financial crisis has rein in most investors being more cautious).
Last but not least, we can see how determined that the MND is serious about curbing specualtion and if I remember correctly, more measures will be out if these drastic measures still don't cool the market. Since last year, MND has come out with measures every half a year, the last was in Feb now the most drastic almost similar to 1996 curb (minus capital gain tax) came up. So if thiings still do not cool down, maybe nextt Feb/March, more measures may be implemented.
In addition, development charges from developers has increased too, this may dampen the mood for enbloc potential projects as the cost get higher for developers. Unlcess they are confidence that they can sell higher, these enbloc potential project may see their deal be shelf for the moment.
This move is a good move for long term stabiliy with ecnomy still strong, we can expect some correction in the near time (supply and demand factor), but prices may stablize in my views.
Thanks Read More
My views defer from the rest .If i did not hear wrongly , MBT mentioned that up to 50% of the pte residential bought by mass market may need to be sold within 6months.
This will have effect on pricing of both pte and HDB (more impact).
MOst of the mass market moving forward will need to think twice and also the new measures will weed out a lot of mass market buyers.
However the prime pte properties may have mild impact as these people have holding power and able to wait. So long as the economy still grows prices stablizes. However if there another crisis like the Asian FInancial Crisis comes out, foreign buyers may flee SG market again (chances are slim as recent global financial crisis has rein in most investors being more cautious).
Last but not least, we can see how determined that the MND is serious about curbing specualtion and if I remember correctly, more measures will be out if these drastic measures still don't cool the market. Since last year, MND has come out with measures every half a year, the last was in Feb now the most drastic almost similar to 1996 curb (minus capital gain tax) came up. So if thiings still do not cool down, maybe nextt Feb/March, more measures may be implemented.
In addition, development charges from developers has increased too, this may dampen the mood for enbloc potential projects as the cost get higher for developers. Unlcess they are confidence that they can sell higher, these enbloc potential project may see their deal be shelf for the moment.
This move is a good move for long term stabiliy with ecnomy still strong, we can expect some correction in the near time (supply and demand factor), but prices may stablize in my views.
Thanks Read More
Hi,
I agree with the comments mentioned by the experts.
However, I got only a small portion to add.
As seen in most countries, the role of the goverment is to stabilize the market. Singapore has done a good job to make sure that the market do not go out of hand. If an scenario like that happens, it will cause a bubble and hence follow up with a "burst". Generally, in line with what was mentioned by Minister Mentor Mr Lee, the property market here is not saturated yet.
Quote from Channelnewsasia by Ministor Mentor LeeKY: "there's a limit to what the government can do to put a cap on property prices."
Cheers,
Ken Tan
96461490
ken_Tankw@yahoo.com.sg Read More
I agree with the comments mentioned by the experts.
However, I got only a small portion to add.
As seen in most countries, the role of the goverment is to stabilize the market. Singapore has done a good job to make sure that the market do not go out of hand. If an scenario like that happens, it will cause a bubble and hence follow up with a "burst". Generally, in line with what was mentioned by Minister Mentor Mr Lee, the property market here is not saturated yet.
Quote from Channelnewsasia by Ministor Mentor LeeKY: "there's a limit to what the government can do to put a cap on property prices."
Cheers,
Ken Tan
96461490
ken_Tankw@yahoo.com.sg Read More
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As your dedicated real estate agent, I bring more than just industry expertise to the table; I bring a commitment to excellence and a passion for delivering results that exceed expectations. With a deep understanding of the market dynamics, I tailor my approach to suit your unique needs, ensuring a seamless and stress-free experience from start to finish.
Let’s start your journey to your dream home today!
Call or text for a non-obligatory consultation discussion to know more.
Best Regards,
John Lai
“Right Believing, Right Living”
PropNex Associate Director
(M): 8444-0899
Email: johnlaiproperty@gmail.com
Self introductory video - https://youtu.be/yygkGSG4Mtw
Social Media -
FB: facebook.com/johnlaiproperty
IG: @johnlaiproperty
Tiktok: @johnlaiproperty
YouTube: @johnlaiproperty Read More
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