Property Market Update - Sept 2021

After many months of strong property growth, it seems to have hit the brakes in Aug 21. Is it just a pause due to the 7th Month festival or otherwise known as the  Hungry Ghost Festival.

Traditionally, some buyers see buying a home during this period as inauspicious whist other do not do not subscribe to this concept, especially millennials.

Is it a buying opportunity ? The drop in volume however does not translate to lower PSF. In other words your home is not getting cheaper. Investors look at the PSF of their purchase to determine the overall pricing of their dream home.

Looking at the pattern, Sales volume dropped in June 2021 only to rise again in July 2021. Will this same scenario play out again in Sept 2021 when the sales volume will rise again.

Does this sales blip have anything to do with the events happening in Evergrade, the second largest property Developer in China after Country Gardern. who holds around $300 Billion in debt. Are investors spook that they start to search and run for the shelter. Will the government allow Evergrade to "fail" or is Evergrade considered too big to fail? The truth is no one knows or have the answers to any of these questions. Unless the person you ask is not telling the whole truth.

Will foreigners return to the property and bite the bullet to purchase a property either as a homestay or as an investment.

My guess is that when the market dips in terms of pricing, the savvy investor may consider picking up. Similarly, if there is a stock price is down, investors can take the opportunity to look for good buys.

Have a bucket list of potential good buys of areas that you are sourcing to purchase your property.

Set a price target to offer for the property. For example, If the current price is $1,100 psf for this condo, Will offer if the price drops to $1,000 psf.