New Launches Will Be Cheaper

Aha … Developer Stress … I saw that coming. I shared about that since last year on big stage.

Last year, before the covid, tensions between the two super power countries have negatively impacted the sentiments of Singapore property market.

I often visit showflats and attend talks by several Agency leaders.

Many were saying that Developers have holding power, and they will not reduce selling prices.

They added that with sexy presentation, peppered with newspapers articles and attractive “projected profits based on history”. Even I , felt the “rush”.

The message is often “buy now, don’t wait for price to drop, in fact, its likely to go up.

Like Elvis singing “Its now or never”, they would say.

These leaders were very persuasive. I also almost give them my cheque.

To resist temptations, I left without queuing for the buffet, lying to Jill that there is good food nearby, while my eyes focused on that tiny springrolls on the table, that is always my favourite.

I told all my students that the property market will correct in the next few months last year (which will be 2020).

The developers will have to lower their prices to move the inventory.

True enough, the few launches that followed showed lower asking price… More will follow.

In our small and beautiful country, the demand for property is largely determined by our government policies, not so much by what is happening around the world.

What may happen next ?

Possibly relaxation of cooling measure, possibly allowing more foreigners to buy pty in Singapore; possibly allowing more ppl to become citizens.

Who knows? Who can be certain?

The only thing I am certain is ….

As long as I can find a great deal, I will buy it. I am eyeing on one now…. Waiting for developers to announce price. This one is a “gift” to my second son.

As long as I can rent it, I wont worry about next one to two years, regardless of the turbulence.

Buying the correct property has impacted my life beautifully. .

This process is very rewarding, in terms of cash $$ and self-confidence.

Learn this skill… its life changing. Why is it not taught in schools?

At 55, I am still looking for the chances to apply “applied math” to my life, and I invested many hours in school to learn that…. Should have spent that playing “hantam bola”.

I will always tell my students where I will buy.

There is always more than enough good deals to go around. Don’t be selfish.

Question for you today … will the Developers reduce the prices further ?

Love, Marko
Investor, Practitioner and Full-Time Coach