Is it time to sell my Singapore condo?

[time_to_sell?]

Condo prices in China and Hong Kong are all sliding. Prices in Singapore are now stable at best with new home sales having fallen by several percent. And when you compare prices of property in these places to the US, the UK or European countries it is amazing how little you get for your money over here.

So is this just a brief correction or should I now sell my Singapore condo?

[yes]

If you still can find a buyer, then yes.

[HS Times]

According to the news which rarely prints anything negative about this little red dot, property here is the best investment in the world! 

This place is just a money dumping ground.

[pravda]

Keep in mind that media corporations here are also big property owners...

[Gahmen]

Pravda do you mean the government? 

[yes]

Keep in mind that media corporations here are also big property owners...

And most journos have 30yr mortgages.

[keep it]

Its a long term investment dont let the panic set in.  You ought to hold it for the long haul.   

It may dip a few % at the very worst but not likely in singapore, such fluctuations are normal and in line with typical sales patterns towards the end of the year as Christmas approaches. 

It tends to plateau rather than dip over here.  So I wouldnt get ants in my pants if I were you.


Hold  .

[Blaze]

OP, we managed to sell our condo two months ago, just before the market froze. The agent is my friend and she was complaining the other day there simply aren't many buyers around now. Singaporeans won't buy, they just 'wait and see', Chinese won't buy because their home market is already correcting. Indonesians might still buy, but they are a minority.

There are still people viewing houses but no one is offering anything. If you consider putting your unit in the market now, it will take three months to get any reasonable offer, if not longer.

[Asian Crisis?]

Its a long term investment dont let the panic set in.  You ought to hold it for the long haul.   

It may dip a few % at the very worst but not likely in singapore, such fluctuations are normal and in line with typical sales patterns towards the end of the year as Christmas approaches. 

It tends to plateau rather than dip over here.  So I wouldnt get ants in my pants if I were you.


Hold  .

It tends to plateau rather than dip over here???  Are you mad?  You clearly weren't here in 1997 during the Asian Crisis.  Property values and rents halved overnight.....

[Agent007]

Do not sell unless you really must.

Prices are about to take off again in the next one or two months.

You heard it from 007!

[reorts]

Recent reports I have read suggest the Singapore property market is 30% overvalued

[Agent007]

The reports you have read are incorrect.

Singapore property prices are being held artifically low by the govenment's 'cooling measures'.

Prices will be allowed to increase again early in 2012.

[Reporter21]

Recent reports I have read suggest that the Singapore property market is set to skyrocket in 2012 due to thousands of loaded Chinese buying up everything.

I also read that many of their purchases will not end up on the rental market in the near future.

I guess it would not really be a good time to sell it now.

[wont happen]

Recent reports I have read suggest that the Singapore property market is set to skyrocket in 2012 due to thousands of loaded Chinese buying up everything.

I also read that many of their purchases will not end up on the rental market in the near future.

I guess it would not really be a good time to sell it now.

The chinese are buying up everything in singapore and dubai. If you dont need it, you could sell it and get a good price now.

[Vulcanl]

Agent007/wont happen/other property bulls,

We can no longer ignore the facts.  The PM himself is preparing the Singapore population for a rough ride ahead.  Can you please explain how it will be possible for prices to hold, never mind increase, if people's incomes are expected to decline?


CNBC.com
Singapore PM: Economy Is Visibly Slowing Down

Cris Prystay, On Thursday 10 November 2011, 9:53 SGT

Singapore's economy is visibly slowing down and will continue to do so into the first half of 2012, as global economic conditions get tough, Prime Minister Lee Hsien Loong said Wednesday.

"We are now in a period where incomes will be under pressure at the low-end. I think even in the middle, white-collar workers will also be coming under pressure," Lee told CNBC.

On a quarter-on-quarter annualized basis, Singapore's economy grew 1.3 percent over July-September, after contracting 6.3 percent in the previous quarter, according Ministry of Trade and Industry.

Annual growth is expected to slow to around 5 percent in 2011, after a record 14.5 percent rise in 2010, the Monetary Authority of Singapore said late October.

"There will be uncertainties because the (economic) cycles are shorter, things go up, things go down," PM Lee said.

For the economy to continue to grow at a strong pace, Lee said Singapore needs "more workers, more skills, more talent."

Foreigners account for nearly one-third of the country's 5.18 million population, according to the Department of Statistics' latest data.

"The more you tighten the inflow, the slower growth is going to be and that's something Singaporeans will have to understand," he added.