Many of my friends have the perception that pricing will fall, so they’re all waiting to make that purchase.
However, I always believe in looking at facts and trends rather than speculate. According to the numbers of transactions, new private residential projects are moving, with a 12.7% year-on-year increase in volume of transactions.
The top 5 transacted new launch condos for this period are:
- Treasure at Tampines
- Parc Esta
- The Florence Residences
- Parc Clematis
- Piermont Grand
With the current oversupply of new launch units, developers have to price their projects competitively in order to meet the 30% minimum sales to obtain the construction loan. They would not lower prices further to increase this percentage, as that would mean a lower profit margin for them. Again, looking at the numbers (not in this blog post), they have consistently met their goal.
Don’t be mistaken that nobody is buying property now. They are – they’re just not announcing it to the world.
As I am a CEA-registered real estate salesperson, I am licensed to market and sell property in Singapore. My clients come first in all my dealings and I look forward to establishing a long-term working relationship with you. If you’re in your thirties and still don’t own a property, do reach out to me. It will be my pleasure to help you in your retirement planning with property.
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