A very good and reflective qns indeed.Originally Posted by amk
Maybe cite you some examples:
Scenario 1:
A FH mm 3xx sqft at upper east coast, 1400psf and works out to be 5xxk. Near city but not near amendities or mrt, can buy or not?
The qns is: liveable or not?
Scenario 2:
Greenwich 1 bedder, 603sqft, selling at 876k, 1450psf (based on last transaction price), got 30 retail shops.
Can buy or not?
The qns is: Quantum quite high leh
Scenario 3:
WT 1 bedder, 527sqft, 5xxk, 1050psf, with amendities, mrt.
Can buy or not?
The qns is: It is still undeveloped. I never heard of punggol leh.
Scenario 4:
Bedok residence
1 bedder from 700K onwards, 517sqft at 1400+psf, with amendities, mrt, mature estate somemore, can buy or not?
The qns is: Not cheap leh.
Scenario 5:
4 room HDB at commonwealth, more than 12 years old. Excellent location but 700k plus.
The qns is: more than 10 yrs and high cov.
I cannot speak whether nowadays buyers are simply marginal investors lured by the low quantum. They should do their homework.
The decision still lies on many factors like budget, financial status, economy outlook in singapore, location, convenience, FH vs LH, sentiments to a particular location etc.
Low quantum will definitely attract the buyers initially because it satisfy their budget. The evaluation of other factors will then follows before making a decision.
If quantum is high and out of my budget, I dont even need to do further evaluation and comparison at all.
While a smart buyer looks at the quantum, I feel he must know how to do the comparison, evaluation, calculation and maybe some percentage of gut feel. In short, no sure win and bor bao jia.
Many says today is not the right time to buy. But my opinion is:
"There is no perfect time to buy."
In 2003-2005, property is cheap, but interest rate is high and alot of units are vaccant. You dare to buy?
In 2007, mass enbloc, price starts to climb, you dare to buy?
In 2009, economy crisis, price starts to plunge a little but u dare to buy?
In 2011 beginning, CM4 came, you dare to buy?
In 2011 end, CM5 kicks in, you dare to buy?
In 2012, OCR price are high, economy outlook uncertain, you dare to buy?
No matter which year u wanted to buy property, you will be advised by others to wait and they will give you very valid reasons to wait. But the qns is how long is the wait and when is the perfect time to enter?
Then my answer is: When you are ready (both mentally and financially), you just enter. Simple as that.