06/05/2021
Truly Blessed and grateful to be one of the Year 2020 award winners in PropNex* ! Only possible with the tremendous support & referrals from everyone..
2020 .....
was a challenging year with much uncertainties. The real estate industry had to overcome hurdles with the restrictions faced due to the covid situation.
This is especially true for the resale market - Understandably, most purchasers would still want to ascertain the conditions, facing and orientation of the house before committing to a major decision.
Post Circuit Breaker & 2021 ....
has caught many by surprise with the surge in activities for most segments.
i) Private market : Sentiments may have been hit initially but our fundamentals remain relatively unchanged. Globally Singapore is viewed as a stable and safe haven for global investments, funds and technology firms. This coupled with the increase in number of upgraders purchasing private properties has helped to prop up the private property market.
ii) Landed segment has experienced strong demand as well as locals turn to place their funds in landed assets over other investment options.
Prices in the resale segment for Core Central Region have not grown as swiftly due to a lack of new launches, as well as travel restrictions dampening foreign investors interests. This however should pick up soon for City and City Fringe in 2021 -2022.
iii) HDB market : In a surprising turn of events, more buyers are turning to the older resale HDB market possibly due to the delay in BTOs, looking for larger size houses (due to work from home arrangements) etc. , while making use of the enhanced housing grants announced in 2019 to help boost the sluggish HDB resale market back then.
Take Note!
a) All these are amid a cautious backdrop of a surge in Covid cases, restrictive measures returning as well as a possible Government intervention to cool of some segments of the market?
b) Will there also be a possible over-supply of units completing few years down the road given that so many new launches are sold now.
c) Is it still safe to enter given that prices are hitting an all time high in some areas? Is there still room for growth?
d) Is it true that new launches have more growth potential?
Consumers are asking if they should enter the market now or hold off?
There is really no one size fits all solution - feel free to contact to understand more!
*As of 1st Jan 2021, there are 30,399 agents in the industry and PropNex alone has 8918 agents.