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Cooling measures review: Market stability an important factor

Posted by Property Launch Invest on Thursday, 17 March 2016 in Property News

Echoing what has been said before, Home Affairs and Law Minister K Shanmugam yesterday reiterated that market stability is key when assessing property cooling measures and the government will review property cooling measures when the risks are “less or manageable”.

Mr Shanmugam fielded questions yesterday at our ERA 2016 Asia Pacific Business Conference, and above was his comment in reply to question on when property cooling measures, especially additional buyer’s stamp duty (ABSD), will be tweaked.

As Singapore is heavily dependent on external trade, the uncertain global economy with current challenges such as oil price, China’s economy, etc., will have an impact on local economy. Coupled with that, an aging population is becoming Singapore’s biggest challenge and “The property sector is not divorced from all of these.” says Mr Shanmugam.

News Residential Price Index by Type

Property prices have been on a decline since third quarter 2013, and articles are reporting that it will slide down further.

As such, home buyers tend to ‘drag their feet’ in coming to a decision, convincing themselves that more discounts will be offered by developers for new home sales or home owners will ‘give-in’ to offers that come in below their expectation.

The future is always an unknown and is it possible to time one’s purchase of property such that they ‘catch’ the price at its lowest point and would the apartment of their desired choice still be available?

So long as you know your risks, do your affordability check and ensure you have holding power, it has been proven that property is an investment that will yield returns in the long run.

Property Launch Invest

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PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Cooling measures review: Market stability an important factor

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