Attendees were keen to find out more about the outlook for Singapore’s property market in 2018.
Property agency Huttons Asia predicts that there could be as many as 40 new launches in 2018, with the fastest-growing region being the Core Central Region.
By Mindy Chong
Analysts have predicted that Singapore’s property market will rebound this year and extend into 2019. This is due to the increase in the property price index across all segments and a gradual rise in transactions since the third quarter of 2017. Last year also saw aggressive developer land bids for residential sites and a dip in existing housing supply.
The number of upcoming new launches will increase to 40 in 2018, with the fastest-growing region being the Core Central Region, based on research done by Huttons Asia. The agency also believes that there will be an increase in foreign investment and a hike in prices across all property segments this year.
But how do potential buyers leverage on current market conditions and align their investment strategies to benefit from it. This topic was discussed during PropertyGuru’s recent Guru Talk seminar held at The Asana sales gallery in Bukit Timah.
Guru Talk is a series of knowledge empowerment seminars aimed at providing “Guru Views” on the property market.
Held on 27 January, the event drew an overwhelming response, with more than 70 attendees seeking the latest insights from esteemed speakers Ken Low, director of project sales & marketing, Huttons Asia, Sim Mong Teck, founder and managing partner, Sim Mong Teck & Partners, and Edwin Ho, relationship manager of financial services firm Vision Astute Partners.
Higher transactions and prices in 2017
The event kickstarted with Low talking about the performance of the real estate market in 2017.
“There was a good volume of transactions and one of the factors was the property cooling measures. We also saw a slight increase in the property price index in 2017 which will carry through to the middle of this year,” he said.
“It’s a buyer’s market today. The best action you can take is to buy a property and hold it until it becomes a seller’s market and then you sell. The question is which area to look at this year. Based on data from the Urban Redevelopment Authority, you should focus on districts 9, 10 and 11 as well as the downtown core such as districts 1 or 4,” he said.
Attendees also benefited from a talk on de-coupling to purchase a new property from Sim, as well as a seminar on asset protection from Ho. In addition, lucky attendees got to walk away with a Claude Bernard watch with their property purchase.
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