🤝Met a reader yesterday to help them understand the property market better.
They had the intention of selling their current 4rm BTO HDB flat (Couple, No children age 38 & 36) and thought of buying a Private Property for Staying cum investment 👍
They were eyeing a few properties around the island and had no idea if its a good investment.
Every agent they met told them, thats the right property for them. Some prices indeed looks good (on the surface though)
As such one of the first thing I did was telling them to first understand what is the ideal entry price in today’s market as this will also determine the exit point in future🕵️♂️
One of the factors is to know the average prices in the 3 regions and determine if you are setting a new benchmark price or an accepted price. 📊
What do I mean? Well simply put…eg. if you are entering the outside Central Region and you are going to pay $2100PSF then you are actually buying a Rest Central region price.
So we need to ask ourselves.
Will this affect my Exit in future?
Maybe not, as we all know, Singapore prices generally will increase. The only question is how long?? And for the prices to increase to a point where you can exit, it will take the whole market to catch up. The CCR and RCR has to increase to a point where it will make sense to the market.
As such, what’s the safe entry in today’s market?
This was one of the factor I shared with them and other important critical factors too such as the town demographics as this will also determine the unit types to buy etc etc..
I’m glad they have better vision of what to look at now.
However since they have not sold ( Selling for them now), we will have to look at the market again (ever changing) when the time comes to buy.
If you like to know how to determine the safe entry and exit strategy, please feel free to contact me and I will be glad to meet for coffee to share more 👨💼
