The property market has been rather frigid for quite some time. According to a market expert, most Singaporeans are currently waiting for property prices to fall before taking action… but is this the right course of action?
Market research has shown that in the first 3 months of the year, Residential private property prices fell 1.3% and the average prices of high-end non-landed homes fell 0.9% during second consecutive quarterly decline. As a result, everyone is cautious and on the edge.
However, it should be noted that everything is relative. Consider that Singapore still remains a stable, economically growing country compared to many of its overseas competitor. There is still many Singaporeans who would rather wait for a good time to buy local rather than go overseas.
Sky Habitat is an interesting property to consider what we have just discussed. When it was originally launched, it suffered from low sales due to the perception of “too high a price” but eventually, it was relaunched with a much lower price (albeit with lower land for the price) and it sold much better then.
Prices will go down, but investors should always expect a catch somewhere. After all, developers also need to eat and thus they will have to do things like lower land space and make more compact properties. Large-sized, gigantic properties are expected to swiftly become a thing of the distant past as time goes on.
So should you play the waiting game, or should you try to make a daring bold investment in hopes of it paying of? In the end, it is up to you to decide which is the best choice to maximize your own earnings.
We hope this has been helpful insight into your future plans of property investment. If you’re looking to take advantage of this opportunity, at Condo New Launches we have a wide variety of information on new properties for you to pursue.