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Old 02-09-2017, 12:43 PM
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Originally Posted by Unregistered View Post
People in 2014 or earlier have been predicting property prices to collapse by 2016 because of the expected deluge of completed property supply, cooling measures, as well as weak economy. But did it happen?

Property prices did not collapse precisely because of the government cooling measures. The measures practically eliminated speculation as well as risky behavior of buyers from the market. The market has never been steadier. The prices did decline over many quarters but in a very controlled manner. And now prices seem to be inching up again.

Unless a war breaks out or the world economy goes into tailspin, the Singapore property market will not collapse like it did in 1997/8. Even in 2008, the price drop was very short lived. Did you feel the price dropped enough to entice you to buy in 2008? If not, then you are likely ending up not buying any property at all!

The pace of enbloc has picked up again, with 3 HUDC estates already successfully sold this first half of the year. This shows that developers are bullish of the market demand. At the same time those people who enjoyed windfalls from the enblocs are chasing up the prices looking for replacement homes.

So waiting for the property prices to collapse might be futile. If you are not that young (say in your late 40s or in your 50s), the window to purchase your investment property might be closing up. Before you know it, you will probably be retired and investment in property will be the last thing on your mind.

We bought 4 properties and none of the purcahse was based on the economic conditions. Our considerations were affordability (ie whether we could handle the payments), locations, and need. If we were to wait for the "right" economic conditions, we would still be waiting.
Looks like you are highly leverage but well covered .. Good luck.
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