Property News & Market Trends

Property sales & enquiries seem to slow more than expected

Buyers seem to be grinning the days. With the Sub-prime fears tailing off, the unwelcome news of the mammoth increase in Development Charges or the new rules for en bloc sales, the frenzy has literally disappeared. Thanks to the massive exodus of speculators & option-traders.

Though buyers are still present, many decided to seat back and adopt a gallery-viewing position. These are mainly the private back benchers. Looking at HDB, sellers have yet to budge on their prices. And why should they? No speculators, no option traders. They are all genuine buyers. HDB prices are set to inch up all the way till the end of this year.

While private properties are awashed with plenty of sellers, many are still hoping to sell at a premium. Sadly, their get-rich-quick dreams may be gone with the ghosts. However, there's a glimmer of hope. Since transactions and prices have slowed over these 2 months, the 3rd quarter results may not be as threatening as predicted. So, government may hold back whatever measures they may have in mind and let the market takes it's effect. That's some comfort.

Developers are wary of bidding top prices for residential projects. Less en bloc records from the more seasoned bidders but you never know some foreign enthusiasts plunging in. Nevertheless, developers have very strong holding power, therefore the new projects market may not tumble. Investors who lost a bundle in stocks will need to liquidate some assets at a loss. It's inevitable. These are where the good deals are. Speculators are taking a short breather waiting for the next run. Option traders will need bigger budget to ram up prices after 3rd Qtr announcements.

If everything is in the right place; tienshi, dili, renhe(opportunity meets resources plus great network), we can manage another bull run, abeit less frenzy one, after the 3rd Qtr. Just pray that there are no surprises from the sub-prime crisis or the Japanese market. For genuine buyers, it's a good time to bargain for the best deals now. Cheers! - 'Danny Bingo'

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