Is it A Good Time to Get Your Properties Again?

Uber Construction Costs

First off we’re facing with high construction costs which is being forecasted to grow imminently because of high inflation rates and the shortage in raw materials, we should expect our property prices in Singapore to tag along with the cost since developers will definitely pass this to the consumers.

Hi-End Residences Performing at an Uber Cool Pace

Then we have CBRE (in fact many of CBRE’s reports) reporting that the high-end residential sectors are doing extremely well. With 50 luxury apartments (upscale luxury developments such as Nassim Park Residence, Cliveden at Grange, The Tomlinson, The Grange, and the Orange Grove condos ) going above the 10 million dollar mark, the forecast for these projects are suppose to hike.

Healthy Weekend Home Sales

ST701 reported on the recent weekend home sale is moving really well.

Suites 123 at Rangoon Road was sold out – a rarity these days – while Oxley Ventures offloaded 50 units of Parc Sophia in Adis Road. Sales were also healthy at Dakota Residences in Dakota Crescent.

Market watchers said the sales at these mid-market projects show that homebuyers can be drawn off the sidelines if prices are attractive.

There’re in fact plenty of buyers just waiting for the right time to get the right property at the right price and chances are they’re just waiting on the fence to see the general market direction on whether it’s the right time to buy.

Sub-Prime Isn’t An Issue?

We kept hearing about complains on US sub-prime issues and on the depths of how serious it has impacted the US. I know, I know, we don’t really know the extent of the damage. But how much has it really impacted Asian countries?

Through Asian crisis (Asians are well known to be more conservative, and most are still, in the business sector), most Asian countries, especially Singapore and Hong Kong, who were once known as the Asian Tigers suffered massive blow has probably learnt from mistakes that they shouldn’t just solely depend on the US for import/ export/ trades.

Things have certainly changed way back since 1997 times. With rising tigers like China and India doing extremely well themselves, most Asian countries has more dealings with their own network internally. Usually impacts like a crisis, we could feel the difference, such as the lifestyle of a normal man on the street.. it hasn’t changed much even after the sub-prime issue has surfaced.

Well, is it the right time to buy Singapore properties now for investment or even your own stay? You be the judge.

Written by Benson Koh
Benson is a professional real estate realtor with over 11 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages both SRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 7 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]