Are you a real estate investor or a homebuyer, still looking for a desperate fire sale amidst the pandemic? If yes, this is going to be a disappointment for you.
There will not be a dramatic price correction in the coming months despite the worsening Covid-19 outbreak. And here’s the reasons why:
1. Property measures have been established years ago to combat against economic situations like the pandemic today to ensure financial prudency among buyers. Therefore, the chances of homeowners slashing prices or defaulting on housing loans is basically not going to be on the high side.
2. The government has been working alongside with the banks to help borrowers who face financial distress to apply for deferment of their housing loan monthly repayments until 31 December.
Despite the worldwide affected economic outlook, Singapore property owners are not under huge pressure to sell.
While new land sale might be an alternative for you since developers are currently giving lucrative discounts to homebuyers. It is no surprise that most showflat viewings have transformed into virtual showflat tours and the sales continue to go on.
If you are looking to preview some of the virtual showflat tours or looking for market analysis reports of the best performing new launches that provide buyers a good capital gain, feel free to let us know.
My name is Jen Tan, drop a comment below or private message us & we will get back to you soonest.