So You Are Still Hoping For The Property Market To Go Down By Another 10%. Do You Know What It Takes?

Still hoping for property market to decline by another 10% -

With the eight rounds of cooling measures, the property market has retraced southward by 10% and showing signs of a bottom. If you are still hoping for it to go south by another 10% or even to 2009Q2 level, do you know what sort of events can cause it to happen?

Here are some hypothetical events that are essential to make that happen.

  • New cooling measure adding on top to the existing 8 cooling measures
  • Direct foreign investment withdrew – more companies leaving Singapore for another country, severe oversupply of properties to let
  • Singapore unemployment rises to double digit – more people unable to repay their mortgage
  • Fewer developers bidding for Government land sales resulting in lower successful bid for land prices
  • Sustained increase interest rates – unlikely but if it happens buyers will need to pay more for monthly mortgage
  • Fewer attractive new private condominium launch that cannot be missed – leading to oversupply of unsold properties
  • Smaller property developers reduce price point to reduce penalties from unsold completed units
  • Lower transaction volume from a reduction of qualified buyers or sellers
  • Rising tension and instability geopolitical situation in the south-east Asia region repelling investors to channel their funds elsewhere
  • When terror threats slip through Singapore’s multiple layers of firewalls
  • and many more.

Now, do you still think the property market can go south by another 10%?

If you think so, when would that happen? Share with me.

 

 

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25 thoughts on “So You Are Still Hoping For The Property Market To Go Down By Another 10%. Do You Know What It Takes?

  1. I think it’s possible that the price will go down further, as the economy is bad, some owners are eager to sell off properties. Some sellers are desperate and will just let the price to go further down.

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    1. Hi GengQian, yup there are some desperate owners due to various financial reasons have to let go their property at a loss. However, the number of such cases are still too small at this moment to push the overall market down by another 10%.
      Let’s keep our fingers crossed 😉

      Like

  2. I’m not sure about this too! Although I really hopes it can be going down for 10% so that we can own a property with cheaper price. I wonder will Zika issues affect this? haha Just a thought XD

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    1. Hi Sharon, unless Zika is here to stay for a long period of time, and have more large scale impact that is unique to Singapore, it probably won’t be a major factor when deciding on buying a property here or in any particular district 🙂

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    1. Hi Isabel, acquiring a property is part and parcel of our progress in society. One day you will need a roof over for yourself or family, just a matter of renting or owning.
      Start to think about it early so you have more time to plan for it 🙂

      Like

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