Based on our previous research, prices of new launches in the area have increased by about 55% between 2008 and 2018. Meanwhile, resale condos in the region rose by roughly 68% between 2008 and 2018.
Last year, the government acted to cool the red hot residential property market by introducing higher Additional Buyer’s Stamp Duty rates for some categories of residential property purchases. Meanwhile, Loan-to-Value limits were lowered, all with effect from 6 July 2018. Unfortunately, the confluence of these factors will make owning a home in SIngapore increasingly challenging for some. The good news is, we managed to sift out a number of properties that you may still be able to purchase for under $1,000 psf. Even better, they are located within the Central Region and many of these projects are located near MRT stations.
Based on our observation, the latest property cooling measures could have sparked interest in older, more affordable homes in the resale market.