Are you waiting for the right time, the right price, the right opportunity to buy your next property?
In my opinion, this is the moment! Here is what I think:
Due to the COVID-19 and Circuit Breaker, most developers are holding back their price hike, some are even pricing their properties below market price.
When the current health crisis is over, these developers will definitely increase prices to the previous level or catch up with the market price.
While some are still hoping that developers will continue to reduce prices; others are taking the current opportunity to buy their properties.
So if you are still waiting, the following will happen:
- The right time is over when COVID-19 is over.
- The right price is gone when the Circuit Breaker is gone.
- The right opportunity is in others’ hands when you realised prices were not going to free-fall.
There are 4 fundamentals factors which new launch property prices are based upon such as:
1) Land Price
Land price in Singapore has been rising steadily despite multiple cooling measures being introduced since 2012. Due to the scarcity of land in Singapore, future land prices are not expected to be lower than the level before COVID-19 crisis.
2) Construction Cost
With strict hiring policies and inflation; labour and material cost have caused construction cost to rise over the years. Following the COVID-19 crisis, stricter work conditions will be in place and raw material cost will rise, therefore future construction cost will remain high if not higher.
3) Marketing Cost
Developers’ marketing costs such as the sales galleries, the show units, the advertisements, the commissions and all the miscellaneous usually run into tens of millions before the COVID-19. When this crisis is over, these costs will go higher as more will be needed to boost online selling and complying to stricter distancing measures at sales galleries.
4) Profit Margin
Developers are in business, selling with as much profit is the basic responsibility they have towards their shareholders. By freezing their prices during the COVID-19 period, it has affected their margin; they will have to make it back when the crisis is over.
If you are in the market looking for a property to invest in but would like to wait for developers to sell below cost, it will not happen because of the above reasons.
Case Study: Kopar At Newton Condominium
Since Circuit Breaker started on 7th April 2020, Kopar has sold 10 units online; buyers did not visit the sales gallery nor view the show units. They have sold a good mix of 1-bedroom, 2-bedroom and 3-bedroom units during this period. 100 units were already sold since the official launch in April 2020.
Why are others buying KOPAR now?
- Kopar is located within the Core Central Region(CCR), District 9 and Newton area
- It is just a 5 mins walk from Kopar to Newton MRT Station which serves as an interchange for North-South Line(Red) and Downtown Line(Blue)
- Highly sought-after primary schools such as ACS (Primary), ACS (Junior) and SJI are all within 1-km from Kopar
- The current average selling price at Kopar is way below the average price of ALL the Leasehold-99 years new developments within 5-km
Simply put it – KOPAR IS UNDERVALUED Seize THIS OPPORTUNITY and be the next buyer at KOPAR AT NEWTON!
Call/Whatsapp Direct Developer Sales Team at +65 96717478 to get the free ebrochure and book your choice unit now before more units are sold!