15/05/2020
𝗜𝘀 𝘁𝗵𝗶𝘀 𝗮 𝘀𝗶𝗴𝗻 𝗼𝗳 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗿𝗮𝘀𝗵𝗶𝗻𝗴? 𝗜 𝗱𝗼𝗻𝘁 𝘁𝗵𝗶𝗻𝗸 𝘀𝗼!
With the ongoing circuit breaker measures, while its possible to conduct a sale through online tools, the overall sales volume is definitely going to take a toll due to the lack of actual viewings. 𝗗𝗲𝘀𝗽𝗶𝘁𝗲 𝘁𝗵𝗮𝘁, 𝟯𝟬𝟵 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝘀𝘁𝗶𝗹𝗹 𝗯𝗲𝗶𝗻𝗴 𝗮𝗯𝗹𝗲 𝘁𝗼 𝗯𝗲 𝗰𝗼𝗻𝗱𝘂𝗰𝘁𝗲𝗱 𝘄𝗵𝗶𝗹𝗲 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝗶𝘀 𝘀𝘁𝗮𝘆𝗶𝗻𝗴 𝗵𝗼𝗺𝗲!
While others may see this as a sign of crisis, I see it as how resilient Singapore Property Market has become over the years. With the current situation, many have their income affected, which in turn may lead to instalment defaults, causing bank foreclosures and auction sales.
However, as shared in our previous article, government has implemented several measures to ensure a repeat of 2008 do not happen again, with relief packages and now homeowners are able to defer the mortgage payments for 6 months.
Thus, sales volume are bound to drop in May or even June, if the circuit breaker extends :( 𝗕𝘂𝘁 𝗳𝗼𝗿 𝘁𝗵𝗼𝘀𝗲 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝗮 𝗵𝘂𝗴𝗲 𝗽𝗿𝗶𝗰𝗲 𝗱𝗿𝗼𝗽 𝗼𝗿 𝗳𝗶𝗿𝗲 𝘀𝗮𝗹𝗲𝘀, 𝘀𝗼𝗿𝗿𝘆 𝘁𝗼 𝗱𝗶𝘀𝗮𝗽𝗽𝗼𝗶𝗻𝘁 𝘆𝗼𝘂, 𝘂𝗻𝗹𝗶𝗸𝗲𝗹𝘆 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗵𝗮𝗽𝗽𝗲𝗻 𝗶𝗻 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲 𝗮𝗴𝗮𝗶𝗻.
𝗧𝗵𝘂𝘀, 𝗺𝗼𝘃𝗶𝗻𝗴 𝗳𝗼𝗿𝘄𝗮𝗿𝗱, 𝘄𝗵𝗮𝘁𝘀 𝘁𝗵𝗲 𝗰𝗼𝘂𝗿𝘀𝗲 𝗼𝗳 𝗮𝗰𝘁𝗶𝗼𝗻 𝘀𝗵𝗼𝘂𝗹𝗱 𝘂 𝘁𝗮𝗸𝗲 𝘁𝗼 𝗯𝘂𝘆/𝘀𝗲𝗹𝗹? 𝗣𝗺 𝘂𝘀 𝗻𝗼𝘄 𝗮𝗻𝗱 𝘄𝗲 𝘄𝗶𝗹𝗹 𝗵𝗮𝘃𝗲 𝗶𝘁 𝘀𝗼𝗿𝘁𝗲𝗱 𝗼𝘂𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂
RESALE volume for condominiums in Singapore tumbled 57.3 per cent in April to 309 units resold, compared with 723 units in March, according to flash estimates from real estate portal SRX Property released on Tuesday. Read more at The Business Times.