Cijay Tew, Master Trainer of Zest Academy group and District Director of Propnex speaks to me on the market outlook of Singapore’s property market in the coming year.
Click on the red “play” button to listen to the 6 min interview
Summary:
The mass markets for HDB and condominiums are still active with high volume of transactions. HDB upgraders are not greatly affected by the latest implementation of ABSD (Additional Buyer Stamp Duty) as most are still at their first or second purchase of property.
Amount of foreign investors in the premium sector have decreased drastically and many of them are expected to turn to the commercial market to avoid ABSD and 40% downpayment.
For investors owning 3 or more properties, it is an ideal time to cash out with the current property market hitting an all time high. The profits can be kept till there is a downturn in the future. On the other hand, those investors at their second property can still hold on to it for further observation.
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