Your search results

Property Market: Buyer’s Paradise or Seller’s Dreamland?

Posted by Jayson Ang on July 24, 2024

| All, Buying Tips, Opinion, Selling Tips

| 0

TLDR

The property market in Singapore post-Covid has seen a surge in HDB and private property prices, with a noticeable plateau in resale flat prices. The implementation of Plus and Prime schemes segregates upgraders from non-upgraders, impacting the market dynamics. Amidst speculations of a slowdown in private housing prices, there could be a shift towards more affordable housing options, potentially affecting resale condo demand. Factors like job market uncertainty, regulations, and rental income dynamics further complicate the decision-making process for buyers and sellers. To navigate these complexities, strategic real estate advice and market insights are crucial in making informed decisions.

2024 Property Market: The Good, The Bad, and The Story!

“Ah, the elusive dream of buying a house in Singapore. Many have uttered the words ‘easy peasy’ when it comes to home ownership here, but let’s be real, no one has ever actually said that. The road to owning a property in this bustling city is often fraught with challenges, twists, and turns. And as if that wasn’t enough, the arrival of Covid-19 has only added more hurdles to the already arduous journey.

But fear not, dear reader. As you embark on your quest to find the perfect condo, we’re here to guide you through the maze of downpayments and help you make the right decision as a first-time home buyer. So sit back, relax, and let us be your trusted source of information on all things condo-related in Singapore.”

Following the Covid pandemic, HDB prices experienced a meteoric rise, reaching double-digit growth rates. A mere comparison between the price disparity from the peak in 2013 to the present would be akin to comparing a crushed anthill to the majestic Mount Everest. However, the surge in private property prices has outpaced even the HDB prices, further widening the gap and overshadowing the performance of resale flats.

Unfortunately, the exorbitant growth in resale flat prices cannot be sustained, as it has already begun to plateau. As a result, aspiring upgraders will face an uphill battle in their pursuit to bridge the ever-widening chasm in the upcoming years.

In addition, the implementation of the Plus and Prime schemes have come into play, segregating those who wish to upgrade from those who do not. This means that those who have no intention of upgrading will no longer compete with those who do, as the former would not consider purchasing a flat that can only be resold after approximately 14 years.

Amidst the chaos of an impending tech industry apocalypse, with layoffs looming and economic fears on the rise, whispers of a possible slowdown in private housing prices have surfaced. Some speculate that this may result in a surge of demand for more affordable housing options, perhaps even in neighboring Malaysia. For the unaffected citizens of Singapore, this could be a golden opportunity. However, for those affected by the industry shake-up and facing reduced incomes, their attention may turn towards the resale condo market, where prices have become markedly lower than those of newly launched units. This surge in demand for resale condos may spell trouble for the median-income upgrader, who is already struggling to afford family units in new developments.

As the job market remains uncertain, some may be forced to part with their properties due to layoffs or reduced salaries. Yet, our debt levels and savings act as a counterweight to these potential sales. With regulations like the TDSR and the use of CPF savings for mortgage payments, even those who have lost their jobs may not be driven to desperate measures. After all, our human nature does not easily accept the idea of losing money on our prized properties.

But wait, there’s more to this delicate balancing act. The recent allowance for up to eight unrelated tenants in a single residence has lifted rental income, although the market may be showing signs of a slowdown. And while landlords rejoice at the increase in rental income, they must also bear the burden of rising interest rates and property taxes. Another case of good news offset by bad news.

Truly, the current state of affairs resembles a seesaw; every positive development is met with a corresponding negative one. And I, for one, refuse to hastily declare whether this is a favorable time for buyers or sellers.

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 …

Buying Tips Mandarin Top 5

5 Things to do When You Go For A Property Viewing In Singapore

Jayson Ang – June 6, 2023 –

5 Things to do When You Go For A Property Viewing In Singapore Here are 5 things to keep in...

All Buying Tips Opinion

How Real Estate Professionals in Singapore Choose Their Own Homes: Lessons for Buyers

Jayson Ang – June 11, 2026 –

TLDR Real estate agents in Singapore approach their own home purchases with practicality, often relying on expert advice rather than...

All Blog Posts Buying Tips

Ready To Make The Jump From HDB To Condo? This Guide Has All The Answers!

Jayson Ang – January 5, 2023 –

TLDR When upgrading from an HDB flat to a condo, consider factors like location proximity, amenities, and regulations. Decide whether...

Mandarin Top 5

5 Tips : How To Choose The Right Property Agent To Help With Your Singapore Property Investment

Jayson Ang – June 6, 2024 –

Choosing the right property agent is crucial to the success of your Singapore property investment. A good agent can provide...

All Buying Tips Opinion

The Impact of a Real Estate Agent on Your Property’s Selling Price

Jayson Ang – August 9, 2023 –

TLDR In the world of real estate, the value of property agents lies in their ability to create competition among...

All Blog Posts Buying Tips

6 Essential Tips for Singaporean New Homebuyers

Jayson Ang – March 29, 2023 –

TLDR Best practices for first-time homebuyers, the key points include setting clear and detailed goals, planning a realistic housing budget,...

Mandarin Top 5

Top 5 Factors : Why Now Is the Perfect Time to Invest in Singapore’s Real Estate Market – Insider Analysis!

Jayson Ang – March 15, 2025 –

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

All Opinion

Reasons Why En-Bloc Sales Are Expected to Remain Slow in 2025

Jayson Ang – February 6, 2025 –

TLDR From 2014 to 2024, the en-bloc market has faced challenges due to fluctuating cooling measures and a shift from...

Mandarin Top 5

Top 5 Art Galleries in Singapore for Contemporary Art

Jayson Ang – May 24, 2024 –

Singapore, known for its modern architecture and vibrant culture, has a thriving art scene that showcases the best of contemporary...

All Buying Tips

Uncovering Hidden Details: Key Questions to Ask at a New Launch Condo Show Flat

Jayson Ang – January 2, 2026 –

TLDR Show flats can be impressive but may hide important details. Buyers should ask about room sizes, furniture fit, balcony...

All Buying Tips Opinion

Exciting News: Affordable Housing in Singapore by 2024?

Jayson Ang – May 31, 2024 –

TLDR The real estate market in Singapore is experiencing shifts in housing supply and demand, influenced by factors like mortgage...

All Blog Posts Buying Tips

5 Must-Know Questions Before Investing in Real Estate

Jayson Ang – June 15, 2023 –

TLDR When considering whether to buy a new development or a resale property, it can be challenging. In the blog...

All Buying Tips Opinion Selling Tips

5 Untold Risks Of Buying An Old Freehold Condo In Singapore

Jayson Ang – October 1, 2025 –

TLDR Old freehold condos in Singapore may seem attractive due to lower prices, but they come with hidden pitfalls. Longstanding...

All Blog Posts Buying Tips Opinion

I Decided to Pay the Additional Buyer’s Stamp Duty to Purchase a Condominium While Retaining My HDB: My Reasons

Jayson Ang – October 15, 2024 –

TLDR Despite a 20% Additional Buyer’s Stamp Duty (ABSD) for second properties in Singapore, Yang chose to hold onto his...

All Opinion

Is Your Condo Management a “Hidden Authoritarian” in Singapore? Understanding Governance in Strata Living

Jayson Ang – July 1, 2026 –

TLDR Condominium living in Singapore can sometimes feel authoritarian due to the management committee's control, especially when a few owners...

All Buying Tips Opinion

Most Buyers Miss This Condo Checklist Item — Until It’s Too Late

Jayson Ang – April 18, 2026 –

TLDR When buying a condo, many overlook the importance of the Management Corporation Strata Title (MCST) and its finances. Beyond...

Mandarin Top 5

Top 5 Things to Do in Singapore on a Rainy Day

Jayson Ang – March 24, 2024 –

Singapore, the beautiful island city-state, is known for its sunny weather and stunning attractions. However, even in this tropical paradise,...

All Buying Tips Opinion

Can You Make the Leap to a Condo Upgrade in 2024?

Jayson Ang – June 12, 2024 –

As the Chinese New Year festivities wind down, folks are once again on the prowl for new homes, and understandably,...

All Blog Posts Buying Tips

Subscribe to Jayson Ang’s Singapore Property Newsletter

Jayson Ang – December 27, 2022 –

TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...