16/07/2022
With the rising interest rate, is it really the right time to buy a property?
Despite the rising interest rate, why are some people still rushing to buy a property? In every crisis faced there are still people purchasing properties and here we find out why is that so- the increased interest rate is the window opportunity of a stable market to purchase when people are not buying. Interest rate will not stay high forever as we can see from the chart. What goes up will come down and it is proven in the 2018 rise in interest rate at 2.88%. People that bought in 2016/2018, eg Twin View, Stirling Residences, Sea Residences, and Lakeville are making profits now. So with this we can see that people that make purchases during high interest rates were barely affected.
The cooling measures are not measures that cause a drop to the property market, but to stabilise the market from going up at a fast rate and to motivate financial prudency in home purchase and investments. Cooling measures deter owners from selling because of the taxes such as ABSD. So when the supply in the housing market is low while the demand remains high, will prices go down?
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