30/12/2024
๐จ "๐ฝ๐ ๐๐๐๐ง๐๐ช๐ก ๐๐๐๐ฃ ๐๐ฉ๐๐๐ง๐จ ๐ผ๐ง๐ ๐๐ง๐๐๐๐ฎ ๐๐ฃ๐ ๐๐ง๐๐๐๐ฎ ๐๐๐๐ฃ ๐๐ฉ๐๐๐ง๐จ ๐ผ๐ง๐ ๐๐๐๐ง๐๐ช๐ก" โ ๐๐๐ง๐ง๐๐ฃ ๐ฝ๐ช๐๐๐๐ฉ๐ฉ
As cliche as it sounds, that's exactly what 2024 was about. A relatively slow year which present a golden opportunity for those who has entered or progressed in the market. ๐
When it comes to property, would you rather buy in a fast-moving market with skyrocketing prices or in a slower market with more choices and stable growth?
๐๐ฒ๐ฟ๐ฒ'๐ ๐ฎ๐ฌ๐ฎ๐ฐโ๐ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ฝ๐ฒ๐ฟ๐ณ๐ผ๐ฟ๐บ๐ฎ๐ป๐ฐ๐ฒ: ๐
๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ฒ ๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ถ๐ฒ๐:
* Resale Price Index (PPI) grew 5.24% YOY
* New Launch PPI dipped 2.79% YOY
* Overall PPI grew modestly by 1.4% YOY
(For context: In 2023, resale prices grew 8.49%, while new launches dropped a steep 12.83%, leading to an overall PPI growth of 9.48%.)
๐๐๐:
* Resale HDB prices grew 6.91% YOY
2024 was undoubtedly slower, signaling two key opportunities:
๐๐ผ๐ฟ ๐๐๐๐ฒ๐ฟ๐:
A slow market offers choices and room to negotiate and developer sensitive pricing. Enter while prices remain reasonable and options abound.
๐๐ผ๐ฟ ๐ฆ๐ฒ๐น๐น๐ฒ๐ฟ๐:
Prices have largely peaked. Leverage the strong resale market to upgrade into a higher-value property before the gap widens further.
This isnโt just theoryโIโve witnessed clients seize these opportunities and enjoy remarkable gains even in 2024: ๐
* ๐ฎ-๐ฏ๐ฒ๐ฑ๐ฟ๐ผ๐ผ๐บ units purchased at $1.4Mโ$1.5M are now selling at at a ๐บ๐ถ๐ป๐ถ๐บ๐๐บ ๐ผ๐ณ $๐ญ.๐ฒ๐
* ๐ฏ-๐ฏ๐ฒ๐ฑ๐ฟ๐ผ๐ผ๐บ units bought at $2Mโ$2.2M now ๐๐๐ฎ๐ฟ๐ ๐ฎ๐ $๐ฎ.๐ฐ๐
Every client/prospect that I work with will always be empowered with ๐ง๐๐ ๐๐ฆ๐ฆ๐๐ก๐ง๐๐๐๐ฆ deck where I present the latest market sentiment and direction to guide them in navigating about the market. ๐งญ
Being empowered with the same knowledge, I celebrate the success of my clients who seized the opportunity and made informed investments, but I canโt help feeling itโs a missed chance for those who chose to wait, hoping for a โbetterโ market in 2025. ๐ฒ
But like I always tell everyone, we cannot turn back time, thereโs opportunity in every market, likewise the same for 2025. Just need to be able to accept the opportunity that comes along the way and look forward to the future.
๐ช๐ฎ๐ป๐ ๐๐ผ ๐ธ๐ป๐ผ๐ ๐๐ต๐ฒ ๐ฐ ๐ฝ๐๐๐ต ๐ณ๐ฎ๐ฐ๐๐ผ๐ฟ ๐ผ๐ณ ๐๐ต๐ฒ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ถ๐ป ๐ฎ๐ฌ๐ฎ๐ฑ? ๐ฆ๐ฒ๐ป๐ฑ ๐บ๐ฒ ๐ฎ ๐๐ ๐ฎ๐ป๐ฑ ๐โ๐น๐น ๐๐ต๐ฎ๐ฟ๐ฒ ๐บ๐ผ๐ฟ๐ฒ ๐๐ถ๐๐ต ๐๐ผ๐. ๐ฒ