1 OCTOBER 2022
Relook at last cooling measure..
Non-landed residential resale properties from March 2019 till Sep 2022
The last cooling measure was announced in Dec 2021, seems like a long time ago
The subsequent 2 months witness a drop of 1% in terms of average $psf, meaning a $1.5m condo drop to $1.485m.
And then in March 2022, we see the rebound of the property, even higher than Dec 2021, and the upward movement of price till now.
It seems like the flood barriers being put up to prevent an unstoppable tsunami, little or no effect.
Let’s see how this round of cooling measure will pan out.
The market is determine by you and I, the real people who put down their cold hard cash/CPF into the properties.
If everyone suddenly stop buying, yes for sure the market will go into an adjustment period.
But if the price is still moving upwards strongly, it’s no brainer that more flood barriers will be put up. Maybe a great wall
Till then, always stay financial prudent before making any bold move.