09/06/2021
Even in an up market today, there are some areas in Singapore that aren't performing as well.
What may be the best and dream home for you today, might not be felt the same by the future buyer of tomorrow. That affects your exit resale price.
If you're buying your forever home, doesn't matter if it is expensive or abit overpriced. It is worth much more to you. That's why you are willing to pay for it. This in effect is merely a small blimp in pushing up the overall resale price index.
With many feeling this way, that is how prices have slowly and steadily increase despite covid.
https://www.businesstimes.com.sg/real-estate/fewer-viewings-drive-114-fall-in-condo-resale-volumes-in-may-after-four-month-climb
1. ...the drop in sales volume was not as drastic as a year ago during the "circuit-breaker" period. *May 2021 volumes are still about nine times that of May 2020* and 86.6 per cent higher than the five-year average volumes for the month of May.
2. By region, more than half or *59.3 per cent* of resale volumes came from the outside of central region *(OCR)* , *23 per cent* from the rest of central region *(RCR)* , and *17.6 per cent* from the core central region *(CCR).*
3. ...supply of new mass-market homes remains limited, and demand is still outstripping supply in the suburban areas.
4. District 21 *(Clementi and Upper Bukit Timah)* saw the highest median capital *gain at S$377,000* , while District 4 *(Sentosa and Harbourfront)* was the only district that posted a median capital *loss of S$135,000.*
5. "The higher transaction volume would also support the continuing rise in housing prices unless the government were to intervene with another round of cooling measures," he noted.
6. ... *several factors* supporting the resale market. These include *firm new launch home prices* , the *dwindling supply of unsold* new units, as well as *delays in the completion* of new projects due to construction sector disruptions.
