Tuesday, September 2, 2008

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Property Buying Advice: 2010 critical year for Property Market

While the private property market may be spared the selling hysteria this year and even next year, some industry players caution that 2010 may be a different scenario.

The projects that will be completed then were mostly launched during the property market peak in 2007 - 2008. Buyers who bought high are likely to register losses if they want out of their investments, experts say.

Generally, there is a rush to offload units right before a project's TOP, as that is when more payment instalments are due.

So come 2010, if prices stay soft and the economy has not made a spectacular recovery from the current slowdown, buyers might start to feel a greater urgency to sell their properties and the market might be flooded with these 'expensive apartments', said Wing Tai chairman Cheng Wai Keung last week.

Mr Colin Tan, associate director of Chesterton International, added that investors who have cashed out by now are the experienced ones, while 'it is the novice investors who are usually left holding on to their units' and may be more prone to panic selling later.

For complete report, refer to News Report Aug 2008
May also want to read:
Marina Integrated Resorts Completion in 2009-2010 to lift Property Market?
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

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