Your search results

Lessons from the Rollercoaster Ride: Homebuyers Share Their Singapore Housing Market Experiences

Posted by Jayson Ang on April 11, 2024

| 0

TLDR

The Singapore housing market is a rollercoaster of unpredictable changes. Three homebuyers share their experiences: Tristan waited too long due to cooling measures, Daniel sold too soon and spent years renting, and Steven bought small units too early. It’s hard to give one-size-fits-all advice on buying or selling property. Seek strategic real estate advice and connect with the right buyers for success.

The Singapore housing market is a lot like a rollercoaster ride – unpredictable and full of ups and downs. Changes can happen in the blink of an eye and sometimes, decisions that seemed smart at the time can end up being not-so-smart later on.

We’ve put together some stories from homebuyers who have faced this truth head-on.

Let’s see if we can learn something from their experiences.

1. Playing the Waiting Game with “Temporary” Cooling Measures

Meet Tristan, who back in 2011, almost bought a second condo. His thought process was simple: “We were thinking of buying a small unit for my daughter who was renting at the time. The plan was for her to live there until she bought her own place, and then we could rent it out.”

But then the government introduced a three per cent ABSD (Additional Buyer’s Stamp Duty). Tristan thought this was just a temporary measure. He asked his agent if he should wait until it was removed. She suggested it might not be a bad idea. So, he waited.

Fast forward to 2013, and the ABSD increased to ten per cent. That’s when Tristan decided to buy, but he ended up with a less desirable unit and paid the seven per cent ABSD unnecessarily.

To add insult to injury, property prices had gone up from around $1,100 to over $1,300 psf during his waiting period. And today, the ABSD is even steeper, standing at 20 per cent for a second property purchase.

2. Selling Too Soon And Spending Years Renting

Then there’s Daniel, who sold his unit one year from completion. “The location was perfect – just minutes from my office and close to my in-laws. But the buyer was keen, and the return looked good,” he explains.

After selling, however, Daniel couldn’t find a suitable replacement. He ended up renting in various places over the next 4.5 years, until he finally bought his current unit – which is less than a km from his original one!

3. Investing Too Soon And Buying Units That Were Too Small

Steven was always excited about property investment. By the age of 30, he had bought two one-bedroom units with the help of his dad and uncle. But when he decided to settle down few years later, he realized both units were too small for a family. He had to sell them at a time when the market wasn’t so good.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

Mandarin Top 5

How To Avoid Top 5 Common Investment Pitfalls When Investing In Singapore Property

Jayson Ang – July 24, 2024 –

When investing in Singapore's property market, it is crucial to be aware of the common pitfalls that can lead to...

Mandarin Top 5

Top 5 : Factors Influence Real Estate Investors’ Decisions when Investing in Singapore Condos?

Jayson Ang – December 11, 2024 –

Singapore's real estate market has always been an attractive investment option for both local and foreign investors. The city-state's stable...

All Buying Tips Opinion

Executive Condos in Singapore: Have They Outgrown the “Sandwich Class” Label?

Jayson Ang – July 1, 2025 –

TLDR The Executive Condominium (EC) scheme, once intended as affordable “sandwich class” housing, is now acting more like a lottery...

All Opinion

How Budget 2024 Impacts Singapore Homeowners: Exciting Property Tax Updates and ABSD Benefits

Jayson Ang – June 16, 2024 –

TLDR The 2024 Budget introduces changes to property tax bands, aiming to ensure fair taxation based on Annual Value (AV)...

All Opinion

Why Can’t More People Own Private Property?

Jayson Ang – April 2, 2024 –

TLDR The blog post discusses the aspirations of individuals like Siti and Mr. Tan regarding property ownership in Singapore. Siti...

Mandarin Top 5

5 Tips : Riding the Wave: How to Profit from the Upcoming Boom in Singapore’s Property Market

Jayson Ang – August 5, 2024 –

Singapore's property market has always been a hot topic among investors and homebuyers alike. With million-dollar HDBs being sold and...

All Buying Tips Reports Selling Tips

A Timeline of Property Cooling Measures in Singapore Through the Years

Jayson Ang – August 6, 2025 –

TLDR Since 2009, Singapore has implemented over 15 rounds of property cooling measures to curb speculation and keep homes affordable....

All Buying Tips

Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)

Jayson Ang – August 15, 2023 –

TLDR When it comes to navigating the Additional Buyers Stamp Duty (ABSD) in Singapore, there are legal strategies available to...

All Blog Posts Buying Tips

Discover What Else You Can Focus On Beyond PSF – Here’s How!

Jayson Ang – July 17, 2023 –

TLDR When considering real estate investments, factors like property size, location, and PSF play crucial roles in determining affordability. Smaller...

All Buying Tips Opinion

Property Unpacked: Is GLS Impacting Property Values?

Jayson Ang – March 2, 2025 –

TLDR The Government Land Sales (GLS) program in Singapore is critical for developers to obtain development land, with sites released...

Mandarin Top 5

Top 5 : Is Investing In Properties Worth In Singapore?

Jayson Ang – February 3, 2025 –

Investing in properties has long been considered a reliable and profitable venture, and Singapore, with its robust real estate market,...

All Buying Tips

Multiple Property Ownership in Singapore: A Different Landscape in 2025

Jayson Ang – July 22, 2025 –

TLDR Owning multiple properties in Singapore in 2025 is tougher due to higher Additional Buyer’s Stamp Duty (ABSD), stricter Loan-to-Value...

Buying Tips Mandarin Top 5

5 Qualities to Look for in an Agent to Ensure a Smooth Transaction

Jayson Ang – June 23, 2023 –

5 Qualities to Look for in an Agent to Ensure a Smooth Transaction Here are 5 qualities to look for...

Mandarin Top 5

Top 5 Romantic Date Spots in Singapore

Jayson Ang – March 18, 2024 –

Singapore, known for its stunning skyline and diverse culture, is a melting pot of romantic opportunities just waiting to be...

Mandarin Top 5

Top 5 : Benefits of Investing in Older vs. Newer Singapore Property Market Condos for International Buyers?

Jayson Ang – January 14, 2025 –

Singapore's property market has long been an attractive investment destination for international buyers, offering a stable and well-regulated environment with...