Buying Singapore Property in 2020? Here are some tips for you.
If you are planning to buy a Singapore property in 2020, you would probably have a number of questions on your mind. Is this the right time to buy? What should you look out for?
Here’s what our experts think.
“Despite a bigger crop of new HDB BTO homes coming into the supply pipeline in 2020 – about 16,000 to 17,000 units – we are not expecting much impact on the private residential market or the HDB resale market in 2020,” said Steven Tan, CEO, OrangeTee & Tie.
“The number of new HDB flats being launched is not significant, compared with the annual transaction figures of the private residential market and the HDB resale market. In fact, we believe the interest in the HDB resale market will remain robust, with the Enhanced Housing Grant implemented in 2019.
“We expect to see more launches in the CCR and RCR in 2020, though there will be fewer mega launches with over 1000 units. In this case, potential buyers can also consider the newly released units in existing launches from 2019. There are always interesting stacks to consider,” Tan concludes.
So what should buyers look out for in their next property?
Kazuhiko Murayama, from Daiwa House Malaysia who is marketing Sakura Residences in Iskandar Malaysia, says buyers need to consider the property’s unique selling points, besides looking at its location. “Many properties offer similar layouts, so buyers should consider the quality of the development before buying. It is also important to choose a property located near good amenities and purchasing early ensures you can select your ideal unit.
When purchasing a property, Murayama also advises buyers look for properties from reputable developers that offer minimal defects upon handover. “A property purchase is a long term investment, and you should not only focus on the initial cost of the property. The rectification cost of defects that show up later on, can add up, making your home even more expensive in the long run.”