Some buyers / investors are undeterred by the ABSD imposed and are still buying but they are more selective ie location, quantum, size etc.
D'Nest @ Pasir Ris, Sennett Residences @ Potong Pasir, Trilinq @ Clementi, Urban Vista @ Tanah Merah, Bartley Residences @ Bartley Rd all registered healthy sales volumes over their first week of preview launches.
However, the resale market has really taken a beating. Sales volume are down and there appears a widening gap between sellers' asking prices and buyers' offer prices.
The drop in transaction volume is also attributed to sellers unwilling to sell due to the additional stamp duties that they would have to pay when they buy a replacement investment property, thus they rather hold on to what they have currently. Besides, the low interest rate environment is in their favour and is unlikely to see much changes in the next 6-12 months. This makes it cheap to continue holding on to their investment properties.
On the commercial property side, it seems that sellers are asking for higher than valuation prices and investors are still biting. This scenario is very similar to 2007 where prices rise so quickly that buyers are the chasers in the bull market. Having said that, there are still many gems to be found.
I am also getting more enquiries from my clients about investing into commercial properties.
On a personal level, I am exploring overseas investment opportunities with the nearest destination just over the causeway.
However, the resale market has really taken a beating. Sales volume are down and there appears a widening gap between sellers' asking prices and buyers' offer prices.
The drop in transaction volume is also attributed to sellers unwilling to sell due to the additional stamp duties that they would have to pay when they buy a replacement investment property, thus they rather hold on to what they have currently. Besides, the low interest rate environment is in their favour and is unlikely to see much changes in the next 6-12 months. This makes it cheap to continue holding on to their investment properties.
On the commercial property side, it seems that sellers are asking for higher than valuation prices and investors are still biting. This scenario is very similar to 2007 where prices rise so quickly that buyers are the chasers in the bull market. Having said that, there are still many gems to be found.
I am also getting more enquiries from my clients about investing into commercial properties.
On a personal level, I am exploring overseas investment opportunities with the nearest destination just over the causeway.
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