The theme for the 2024 property market is “good news, bad news”
It’s almost as if the universe wants to perfectly balance the forces that push property prices up, as well as down; so I’m not surprised that 2024 has been called both a buyer’s market and a seller’s market, depending on where you’re standing.
First, Core Central Region (CCR) prices are coming down, due to recent cooling measures. Look at recent discounts offered at developments like Cuscaden Reserve, where units are going for $2,900 psf, down from a range of $3,400 to $3,800 psf of units that were previously sold. This is the big chance for you to grab one at a lower price. On the other hand, sky-high interest rates, a high quantum, and economic headwinds mean most of us get to sit on our hands and watch this opportunity fly by.
Second, HDB prices grew at double-digit rates in the aftermath of Covid. Comparing the price difference between
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