Condo owners planning to downgrade, others who sold homes stranded, agents say after cooling measures& More News

condos 991356 0


PropNex agent Shafiq Yusop mentioned he has helped shoppers promote their condos after suggesting they use the additional money to pay for an HDB flat in full.

“Their intention is that the second the revenue comes, they need to purchase an HDB flat,” he mentioned.

Football Highlights

“But now with this cooling measure … they can not purchase. So they’re very anxious, (saying): ‘Where am I going to be? I’ve already dedicated to my sale, now I’ve to purchase. What would you like me to do?’”

Rental market to warmth up much more

Mr Shafiq says these owners will most probably have to hire an HDB unit through the wait-out interval, though he foresees challenges with this too.

“Already at this level, the rental market may be very tight, which suggests demand is larger than provide,” he mentioned.

“It’s going to get even hotter as a result of these folks, after downgrading, they are going to have to hire. They’re going to have a troublesome time discovering housing.”

Condominium rental costs rose 1.7 p.c in July, the nineteenth consecutive month of will increase, whereas HDB rental costs rose 1.5 p.c, the twenty fifth consecutive enhance, in accordance to information from and SRX.

Before the cooling measures have been introduced, Mr Shafiq mentioned he acquired 50 inquiries within the first hour of promoting a “tremendous fundamental” HDB flat for hire in Yishun. With the measures, he expects the demand to enhance exponentially.

“Because these (condominium sellers) are downgrades, they’ve a really wholesome revenue. So, they’ve the flexibility to hire economically,” he mentioned.

“Whether they’ll get a home for at the very least 15 months’ hire, that is a distinct query.”

Plans are on maintain

Fellow PropNex agent Daron Ang mentioned he has three shoppers beneath the age of 55 who need to benefit from the presently “engaging” condominium costs by promoting their home and shopping for an HDB flat.

According to information launched by the Urban Redevelopment Authority in July, non-land non-public property costs rose 3.6 p.c within the second quarter, in contrast with a 0.3 p.c decline within the first quarter.

“They are considerably indignant as a result of they’re wanting ahead to making money and holding extra cash,” Mr Ang mentioned.

“But proper now they’ve to put their plans on maintain for at the very least 15 months.”

Condo owners planning to downgrade, others who sold homes stranded, agents say after cooling measures

& World Latest News Update

I’ve made it my purpose to provide your entire most present news today 2022 with using this web site, and I consider that you’ll like all of this information very a lot since all the information that we at all times present on this information is at all times current. Regardless of the newest information, it’s presently a preferred matter.

We at all times wished to be sure to received essentially the most present data within the following classes: News about power, degrees, donations, bitcoin, trading, real estate, video games, current topics in marketing, telecom, banking, travel, health, and cryptocurrency, in addition to information about claims You can also inform your kin and pals about this data. Give no matter data you might have.

You will just like the information I created and shared with you very a lot. We will proceed to present themes for you to examine so as to assist you to find out about sizzling information matters, which is what we hope it is possible for you to to do.

Condo owners planning to downgrade, others who sold homes stranded, agents say after cooling measures

& Breaking News Today

with out going by us, enabling us to present you essentially the most up-to-date data with out cost and enabling you to advance by studying about that information alongside you. We will proceed on later.

We will publish data on extra present occasions and different types of information on our web site so that you could be consistently be told and obtain right here extra kinds of reports that I current for you.

Condo owners planning to downgrade, others who sold homes stranded, agents say after cooling measures

& Today’s Big News Headlines

The data I’ve given you, contains trending news, breaking news, business news, health news, science news, sports news, entertainment news, technology news, United States information, United Kingdom information, Australia information, New Zealand information, Canada information, Finland information, China information, Israel information, Germany information, Luxembourg information, and world news, will all be essentially the most distinctive. 

most interesting data that’s accessible wherever. In order to hold you knowledgeable, conscious of the scenario, and obtain free updates on right this moment’s information until right this moment, I’ve taken these actions. Always go ahead in two steps.

Credit Goes To News Website – This Original Content Owner News Website. This Is Not My Content So If You Want To Read Original Content You Can Follow the Below Links

Read Entire Article🡽