Opened Doors SG

27/10/2021

Since people with higher than 14k income are unable to buy these new resale HDBs in the future it would result in a few factors,

1. Prices of such prime location HDBs will be more controlled as there would be less people who qualify to purchase these flats.

2.Prime area condominiums will be the only alternative for people with higher than 14k income. This will cause an increase in demand for such condos which is likely to have upward pressure in prices in the future.

AT A GLANCE: Here's a look at the new rules on HDB flats in prime areas announced today. https://str.sg/3pJV

06/09/2021

What we do for our clients. Head to our website to find out more:)

02/09/2021

Website is live! See all the attractive marketing tools that we do to market your property at Https://Openeddoors.sg

25/05/2021

𝐀𝐫𝐞 𝐂𝐨𝐨𝐥𝐢𝐧𝐠 𝐌𝐞𝐚𝐬𝐮𝐫𝐞𝐬 𝐀𝐥𝐥 𝐓𝐡𝐚𝐭 𝐁𝐚𝐝?

The surge in property prices due to recent pent up demand has hinted that cooling measures would likely be implemented. With an increase of 6.2% in the private property market (URA) and an increase of 8% in the resale HDB market (HDB website), it’s highly likely that cooling measures are imminent if prices continue to grow in this trajectory.

However, either way would be a win - win situation for property owners. The implementation of cooling measures are NOT meant to crash the market - instead, it’ll lead to stable growth in the long term, as it realigns property prices to economic fundamentals and eradicates any speculative activity. As advocates of buying property for capital growth, we believe that a sustainable growth rate is key to ensuring long-term wealth creation through real estate. This is exactly why foreigners are willing to buy real estate in Singapore - despite having the need to pay 20% ABSD as foreign persons, they can be rest assured that policies in Singapore ensure property prices appreciate sustainably.

That being said, cooling measures may cause prices of overvalued properties to retrace slightly to align prices with economic fundamentals. However, this does not mean that all properties will see a price retracement - properties that are fairly-priced would likely hold its value and continue to appreciate in the mid to long-term.

25/05/2021

𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞𝐚𝐧𝐬 𝐇𝐚𝐯𝐞 𝐓𝐡𝐞 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐌𝐚𝐤𝐢𝐧𝐠 𝐏𝐨𝐰𝐞𝐫

The buying power of Singaporeans is evident when Wing Tai sold 70% of “The M” Condominium over launch weekend in Q1 2020, when there was looming uncertainty over Singapore’s economy due to increasing COVID19 cases.

In the same vein, GuocoLand sold more than 60% of “Midtown Modern” Condominium over launch weekend in Q1 this year, all this while the pandemic is still underway!

Strong demand hasn’t only been prevalent in new launches, but also in the HDB resale and private resale market as well. This phenomenon is largely driven by delays in completion of new private homes and BTOs, with waiting times as long as 7 years from today.

24/05/2021

𝗛𝗼𝘄 𝗗𝗶𝗱 𝗖𝗢𝗩𝗜𝗗𝟭𝟵 𝗔𝗳𝗳𝗲𝗰𝘁𝗲𝗱 𝗧𝗵𝗲 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗠𝗮𝗿𝗸𝗲𝘁?

Thousands of Singaporeans are worried that the prevailing COVID19 situation would cause property prices to see a major correction of at least 10-20%. However, contrary to popular belief, housing prices actually saw a strong rally of 6.2% in the last 4 quarters!

Housing prices, like most assets, follow the economic fundamentals of supply and demand. Property crashes are typically attributed to immense panic selling in the resale market, causing an oversupply of property in the market at severely discounted prices (something we’re not seeing now).

Despite a global pandemic, people living in Singapore have the ability to continue paying their mortgage. A quick check on SingStat household balance sheet shows that the average debt ratio of Singaporeans is a mere 13%. This is largely due to government restrictions imposed onto the residential property market such as the Total Debt Servicing Ratio (TDSR) and the Mortgage Servicing Ratio (MSR).

A healthy debt servicing ratio gives Singaporeans more holding power, enabling us to hold onto property instead of forced selling it into the market at fire sale prices. As such, this reduces the probability of a surge in property supply and prevents any speculation of properties.

24/05/2021

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