24/05/2020
I saw this while doing my research and I find it very interesting and thought of sharing it here. Assume this is the property cycle, this is what I really observed the mindset of buyers & sellers. When property market pick up, most people will choose to buy because they witness everyone is buying and everyone feel safe to do it, but when the market is down, normally people will have a lot of fear and they will not buy because they worry about the market will drop further. What happen next, when the market pick up, they say is too late to go in, and end up not buying, forever these people will be in this cycle of missing opportunities too. Why people miss all these cycles because lack of knowledge and fear of uncertainties. Can you imagine, for those who went in during the downturn, they will have gain in term of their profit that they want.
Buying a property is long term and not speculating. Important is to work out a proper finance and plan for safety net using our R.A.M System. As long as we have done it, the rest will flow smoothly. Singapore in long term will still be a good place to buy property and it also proven is the best hedge against inflation. We can't look back at the past pricing because Singapore being a land scarcity country, our land cost is always in demand, which is why historically our land cost normally on an upward trend. As a Singaporean, I only want our property prices to grow steadily and not a sharp upturn which is not healthy for the economy too. If we look at the history of property price index, every time the prices are higher than the previous cycles, the low is always higher than the previous low. Therefore, as long as we are not speculating, everything will be fine if you believe in Singapore long term prospect. Just my opinion. No right or wrong.