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It's mid 2022. Should you buy property now or wait it out?

Thanks (or no thanks) to the pandemic, the local property market has been booming. Construction delays and labour costs have jacked prices up, and property agents everywhere are urging buyers to make purchases before prices climb further.

Amid record high prices, the government introduced cooling measures including higher Additional Buyers’ Stamp Duty rates for residential properties. While new homes sales seem to have stabilised, outlook continues to be favourable especially among investors eyeing luxury developments.

Which begs the question: should you buy a new home now or wait it out?

Here’s our take for residential properties.

Landed segment

We’ve been very clear that Singapore’s landed homes segment holds immense potential by virtue of our limited land size. If you’re in this market, stock is rare and opportunities do not come up frequently. Buyers should always be on the lookout, and have a go at it if they’ve taken a liking to a unit.

If budget is holding you back from that quantum leap, leasehold is not a shabby alternative to consider. After all, they still hold their own as residential homes that offer a landed living experience. Besides, housing in Singapore - public or private - is only going to get smaller and smaller in size. So even if your landed home were a leasehold unit, it will still enjoy its own fan base who are driven by practical needs for space.

What happens if the tenure is a non-negotiable factor for you? Well, we suggest diverting your attention to cluster homes, particularly those around District 19. Think of them as a replacement product for a landed home that offers a similar lifestyle.

Another thing to note: we also foresee that the volumes and price points of landed homes will remain relatively flat for the rest of the year. If tenancy is currently a deal breaker for you, consider purchasing in spite of it to avoid being left wanting when the opportunity comes and goes.


Decided on a condominium instead of a landed home? If size is what you’re gunning for, focus on freehold units in older developments. Prices are relatively reasonable and have much room for growth. Outside and in the rest of the core region, percentage growth in prices have been moving in double digits. Some units, however, have existing rentals and may require buyers to wait their tenancy out before moving in.

Even for new launches, opportunities have been presenting themselves in this core segment. In the range of S$2000 psf, there are plenty of brand new, freehold options in this region, though it might also be wise to consider projects on the fringe of the core.

On the other hand, in places like Ang Mo Kio in District 20, price points can be challenging to beat in the future. Unless prospective buyers have a long-term intention to hold, they will probably consider alternatives in the vicinity rather than buying into these price points.

What is the second half of 2022 shaping up to be, then? If I were you, I would focus on the resale segment if freehold and unit size are priorities of mine. However, if you’re looking for an investment, you would have better luck in the core region. These freehold units may be smaller, but as construction prices continue to hike, the replacement cost for buying brand-new units in the future will be high. We think you would be better off committing now than later.

The bottom line

Our take for the second half of 2022 is this: be driven by opportunities that present themselves. Whether you’re looking at a residential purchase in the landed homes or condominiums segment, recognise that there is no blanket advice and that non-negotiables vary across individuals.

To explore the strategies available to you based on your current position and circumstances, reach out to us and have a fresh pair of eyes evaluate the latter.


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