Thursday, December 11, 2008

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Property Repricing expected after Jan's Spore Budget to break stalemate

Overall current thin private residential transaction volume is being caused by a 'price mismatch between unwilling sellers and unwilling buyers' and the stalemate is expected to last 'until repricing takes place', DTZ executive director Ong Choon Fah says.

'The uncertainty has to go away first. Companies will make a lot of decisions after the Singapore Budget in January.'

'Hopefully after that, some of the dust will settle and things will get clearer.'

Agreeing, the seasoned property agent said: 'It's easier to match buyers and sellers when things are more stable and we should start to see volumes improving from mid-next year.'

Extracted from Singapore Property Forum

May also want to read:
99 Leasehold Property: Calculation of Depreciation Rate based on Singapore Land Authority Data
Spore Property History 1960-2008
Property Investment Tip: Don't put all your eggs in one basket
HDB Resale Price Index 1990-2008: Graph & Chart

3 comments:

Anonymous said...

Even the real estate agencies are getting impatient with the stalemate.

People, people, please! Any price is fine with for us agents so long as buying and selling occur. We're starving. Sellers, please 'REPRICE' so we can start making some commissions again!

They've spent a year trying to psycho buyers and failed. Now they are shifting attention to the sellers.

Waiting for "uncertainty" to pass and things to "get clearer"? Well yes, when it becomes 'certainly' bad and 'clearly' desperate! Then lets see what happens to the stalemate.

Ann

Anonymous said...

We can see some smaller developers have already reduced their prices but the reduction is so marginal, they got a few buyers and then sale stops again. This is worse for the developers' holding power because they're still promoting DPS. Watch out the cash trap!

Savvy Investor said...

The average Singaporean investor is not nimble enough. Take profit too fast and take too long to cut losses, whether stock or property

When you are among the first to cut, your losses are limited. Better cut on your own accord then for someone else to force you

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