February 2019 Property Market Outlook
Isn’t this interesting? The Resale transaction volume has always been directly proportionate. Meaning that, usually, when the overall Resale volume drops, the price will follow suit, vice versa. However, in February 2019, we are experiencing a unique situation, where the transaction volume and price are inversely proportionate. The Resale price went up by 4.6% compared to last year in 2018, and the breakdown is as follows; Core Central Region (CCR) 3.7% up, Rest of Core Region (RCR) 5.4% up, and Out of Core Region (OCR) 4.5% up.
New Launch Prices also went up by 0.5% in February, and this increment remained small, because I believe the entire market is waiting for the other 60 new projects to be launched in 2019.
Well, I feel that investors, and home-seekers should quickly make a move, because some of the new launches have already increased its prices. Furthermore, if you were to research, prices of subsequent bids got higher and higher. Two things might happen. 1) Either the developer would sell the project at break-even price, and the finishing and quality of work would be subpar. 2) Prices will remain out of reach of home-seekers and buyers.
Therefore, I feel that now is the right time to make a move, especially when there are new launch condos that are still undervalued! Call me or drop me a message below to find out which new projects are undervalued.
– Lynn Gor
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