Invest In The Property Of Your Choice In Singapore Now
Who would’ve thought that we’d be staying home for the first half of this year due to an infectious disease?
As the deadly and highly infectious virus (COVID-19) started spreading across the globe, governments and frontliners (in the essential services industry) have been working 24/7, resulting in strict preventive measures and travel restrictions.
Singapore’s economic growth was also brought to a sudden stop as non-essential services are forced to halt their business operations during the circuit breaker.
While some of the industries can adapt to keep their business running, some still depend on the real-world situation to operate. One being the real estate market as it’s affected by the building materials, resources and financial stability.
The country boasts business-friendly environment, allowing properties to be in high demand from locals and foreigners alike.
As we enter Phase 2 of the post circuit breaker, property buyers/investors are more likely to benefit from the global pandemic if Singapore’s central bank decides to lower the interest rates of housing loans.
Given the government’s recovery measures, the property market can also recover with either the V, U, or L shaped recovery.
If you’re still hesitating over a property in Singapore, the following are descriptions of the recovery profile based on the current economic growth.
This recovery profile is often described as a sudden shock to the economy. But with proper measures to contain the shock, the economy will return to normal within a short period. A clear example of this recovery was observed during the 2007-2009 Global Financial Crisis.
If Singapore’s economy experiences a V-shaped recovery, property prices can recover quickly due to strong demands and increased supply.
The U-shaped recovery profile may be similar to the V-shaped recovery profile, but it indicates that the economy will require a longer period to recover.
Though economic recovery is still possible, the real estate market will likely see property prices remain stable for a longer period.
While the V-shaped recovery profile predicts quick economic recovery within a short period, this recovery profile indicates otherwise. If Singapore’s economy experiences severe recession due to the pandemic, property buyers/investors will likely benefit from it for several years.
Is this a good time to buy or invest in a property?
Depending on your capability, this could be turned into an opportunity as the government implements measures that benefit property buyers and investors in order to stabilise the economy. Besides, you can arrange to view the property via virtual tours.
Does the pandemic have any effect on property prices?
Yes and no. The property prices in Singapore may experience a slight dip, but will remain high in the long run due to the demand from foreign investors who’re looking to expand their business here.
3 Orchard By-The-Park
If you’re looking to buy or invest in a condominium in Singapore, the 3 Orchard By-The-Park is for you. Located at the prime District 10, you’ll have access to several shopping heavens such as Paragon Shopping Centre and ION Orchard Mall. Moreover, you’ll get to unwind at Singapore Botanic Garden after a tiring day or stressful week. The luxurious freehold condominium will leave your guests in awe of its garden-like design as it boasts a wide range of amenities from pools to a gym, and more.
Corals at Keppel Bay
Prefer listening to waves or looking out to the sea on a daily basis? Corals at Keppel Bay is the ideal waterfront residence for you. Located at Singapore’s southern shoreline, Corals provides you with a peace of mind and privacy, allowing you to enjoy a slow-paced lifestyle away from the city. Besides, you’ll have access to one of Singapore’s popular attractions, the Sentosa Island. If you need to go on a grocery run, Vivo City and Harbourfront Centre are within walking distance.
Regardless if you’re buying a home or investing in a property, we will analyse your existing portfolio and give you the advice to help you make the best property decision.
Speak to our property specialist today.
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