EC Asset Advisors

15/11/2021

Why this headline is misleading:

New private home sales numbers are extremely dependent on the launches in that month. The increase we see here is due to overwhelming response at Jervois Mansion. With CCR new sales taking up 30% of new launches sold.

What I read from this article is:

1) The overall supply is the market is low. To a point where a single launch is able to move average prices by 8%

2) The increase in average quantums to 1.5 - 2m. With Jervois Mansion only taking up around 100 units, the data here is still relevant. This does reflect what is happening on the ground as we have seen a rise in affordability and budget due to the increase in income, higher sale prices of current house, etc.

I personally would prefer to use quarterly URA data that isnt swayed by a single launch.

That said, nothing beats speaking to practitioners on the ground that speak to sellers and buyers everyday. The real story might be sometimes be very different from what is said in the headlines.

11/11/2021

3 takeaways:

1) many buyers feel resale prices are cheaper, but they didn’t know prices went up 9% year on year since last October

2) there are more buyers than sellers in the market especially HDB upgraders.. so it’s wise to make sure you buy before you sell in a rising market like this

3) enbloc attempts are also taking supply away and causing more imbalances in the demand-supply situation, and if you are an condo owner, this could be the right time to restructure into a better performing asset type ( Pm us and let us share with you! )

04/04/2021

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03/04/2021

Hottest topic in the property scene! Stay tuned for this deep dive talkshow! Sign up for this exciting online event on 10 April 2pm!

🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥(LATEST) ✨With overall private home prices rising by 2.9% in Q1 2021, are there property cooling measures coming our way?

Plus based on the latest data, HDB resale price index rose by 2.8% in Q1 2021, what could buyers and sellers expect in the near future and what would be the RIGHT move in the market?

Another hot topic is the widening gap between New launches and Resale properties, which should be the choice for property investors today?

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11/03/2021

Posted this a week ago and many clients and friends have been asking: what does this mean for them?

In a nutshell, this is my two cents worth:

For buyers :
Try to avoid old flats.. as per what Minister Lawrence Wong mentioned in 2017, “do not overpay for old flats” .. this still holds true

The reason why buyers are rushing to buy resale flats is partially due to long waiting periods for BTO ( can be as long as 7 yrs! ).. however if one chooses old flats now, the old issue may come back to haunt.

And as Singapore demographics age rapidly ( inverted population pyramid ) , more seniors will eventually pass on and increase the supply of old flats and making the situation worse. By then banks or HDB will not loan for old flats too due to short lease, which will further reduce the demand cuz most people need loan to finance their purchase.

For sellers:
If you are owning an old HDB flat with decaying lease, you already felt the pain of price dropping double digit percentage. It’s time to cut loss! Loss-minimising strategy!

Moreover, this is the ideal timing for restructuring your property portfolio.. with the recovery via vaccination worldwide, economic prospects are looking good and the forecast is for strong GDP growth with benign low interest rates. This is a huge tailwind for private property prices!

Even if you do not wish to upgrade to a private condo, you can take this chance to change to a newer HDB. There are many HDBs clusters just MOP which will mean more competition and high supply in the short term, hence asking prices will be competitive and you will most probably not need to pay COV for your purchase.

If you have some questions and wish to understand more, just hit us up for coffee and we will gladly share more!

09/03/2021

Interest rates will continue to trend low with Fed’s chief Powell saying on March 4: “we are still a long way from our goals”

This bodes well for the property market in Singapore as bank rates here are highly correlated to US Fed rates

Low interest rates drives property prices upwards

Photographer: David McNew/Getty Images economics Powell’s Dashboard Shows How Far U.S. Economy Has to Go on Jobs By Matthew Boesler March 7, 2021, 6:00 AM EST 5:16 Powell’s Dashboard Shows How Far U.S. Economy Has to Go on Jobs By Matthew Boesler , March 7, 2021, 6:00 AM EST Focus shifts from ag...

17/02/2021

Hear straight from the Minister Heng Swee Keat’s mouth about Singapore property cooling measures ( 2:33 mins to 4:13 mins )

Singapore Finance Minister Heng on EVs, Property Market

Singapore Finance Minister Heng Swee Keat discusses the government's push for electric vehicles, the state of the property market, and the need for governments to cooperate to tackle various global issues. Heng, who is also the deputy prime minister, speaks with Haslinda Amin on "Bloomberg Markets:....

15/01/2021

Market is turning bullish and many of our customers have recently connected with us with plans to proceed with their upgrading plans!

Many of them were wondering how to proceed with their timeline planning as well as financial planning for a smooth transition.

We are glad to share with them what we know and advised them according to their needs and situation!

If you are also looking into your property plans, just drop us a message and we can discuss over coffee ☕️ or beer 🍺!!!

☎️ 97691810AssetAdvisors

Singapore home sales closed on a positive note last year as sales rose the most in six months in December, signalling a resilient market that has weathered the city’s worst recession.

09/01/2021

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