I observed this interesting article in The Edge this week titled: How much further will prices fall?
We tend to hear a lot of 2 prevailing thoughts:
- Property always does well over time
- Richer people are the Smart Money. They are the ones that buys at the right time and sell at the right time
This article discuss on many woes of the current market, particularly the Stamp Duties and TDSR impeding demand and that the Qualifying Certificate (QC), which requires foreign developers (including most listed companies) to sell all the units in their residential development within two years.
What was profiled is a list of shocking deals in 2015. Property prices was lower overall in 2015, but the magnitude is still manageable.
Yet this list includes a list of properties:
- Mainly in affluent districts
- Purchased in 2006 to 2009
- Large floor Areas
And all losing a big percentage.