If you are one of those “upgrader” that commit on those million dollar property like newly launched EC or Condo, and in need to sell your HDB to cover your down payment, DO IT NOW !!!
Forget about valuation report, forget COV, sell below valuation still give you good returns. As far as SOLD !!!
Let me tell you why. Because there are too many sellers and no buyer out there. The more you wait, the more difficult you sell and end up value is dropping.
Let me tell you why :
Check PropertyGuru website, you search for 5 room resale for in Punggol, it will yield 321 listings.
And now, check HDB last 2 months (Dec & Nov) 5 room transactions in Punggol, ONLY 28 !!! Means only average 14 units changed hands each months.
This tells you what, tons of sellers, NO BUYER!!!
Ask yourself, how many prospect buyer brought to see your house by the agents so far??? Some of you might get tired already keep showing your house but no results.
Because now, buyer are spoilt by choice. And everybody are holding, because by 6 months down the road, price might be different by 15% to 25%.
The property booming and record land sales in the last 2 years will put Singapore’s property supply more than ever. Some might argue that the population target will not cause property to drop. Well, private might not drop, but HDB is in trouble now…
Look at these factors :
- Gov already slow down intake of foreigners
- Sing $ so high compared with neighbors, how many ppl can come here and buy our property?
- Those rich foreigner, can they buy HDB?
- Almost all mass market new launches bought by HDB “upgrader”.
- Tons on them in need to sell their HDB to cover their expenses.
- Interest rates up creeping up.
- US recovery is wolf in sheep skin. Last year record stock market is for wall street people to earn at the end of the year, but party is over now, see it yourself.
- Record supply of property till 2016
You can dream your property price will increase, but it’s better look at the REALITY.
328 listing and only 28 transactions last 2 months is something you MUST NOT ignore. Sell now, at any price, or regret later. In fact FIRE SALE already happens now, look at Punggol COV, left $8k and lots of them sells at negative COV.
Anonymous