I find it misleading that there are still news articles these days saying that the property market is getting hot, just like the weather we have been suffering from lately. Sorry, I disagree until the numbers show firmly that the transactions are growing for a few quarters. The property market has become more sensible, read here: In a slowing market, sanity returns. How true It is definitely nowhere near the HOT word. From my conversations with many more established property investors, 2016 is going to be another bland year. The only thing is the probability for it to slow further because of the world market. Not many countries are doing well, currently.
I do agree, that there are today much more interest with property investment, where awareness is concerned. Property market is slowing. Agree. However, there are today more interested people Even if there are more interested parties, even if the property sites continue to be visited by ever more people and even if the organisers of property fairs tell you that they have higher attendance these days. Stay real. If property market is getting hot, why are there now ever more rebates, why are there ever more discounts and why are there ever more creative ways that the developers are trying to sell their properties?
Hope everyone is a little more clear that even though the property market is not hot, it’s not frozen either. Look at the number of transactions. Here: Lower transactions and property value in 2016 There are still people buying because they really needed a place to stay, needed to upgrade or even just because the father-in-law said, ‘you must buy a home before getting married.’ Yea, true for me many years ago. Haha. Read here: Getting married? better with a home please We should also be very savvy about it because if there’s a queue forming outside the developers office one week before the launch, do we believe they may still offer us special renovation packages or rebates etc?
Just as not all rebates are real as it may have been built into the price, it is also not true that everything is so expensive that we should just rent for life. Come on, even after evaluating for many years, my wife may not believe I am the best man for her but since she got married to me, she just have to make sure I perform to the best of my ability. 🙂 Property market is the same. It’s a forest out there and we need to evaluate carefully. Even among different type of hardwoods, there are lots of choices. Some may be more expensive simply because it looks better but both would last very long time. The question is, what kind of quality we need for what kind of price we are willing to pay. Decide, take action. Else, buy that second hand European sports car and enjoy overtaking everyone on the highway. Happy understanding.
written on 3 Apr 2016
Next suggested article: Maximising our resources, rent the home we currently stay?
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