Home prices have recently fallen to a steep 0.5 percent of their usual rate. This trend is expected to continue for the rest of the year, making 2017 the best year to buy properties.
Singapore’s declining economy affects the property prices. The government has taken measures to stabilize the market. However, other factors influence the prices.
Although it’s good news for prospect buyers, developers are finding recent years quite difficult. Singapore property laws have strict regulations. The current mandate states that a penalty awaits for developers who refuse to comply. Developers must also sell all of their units within five years. Failure to comply this regulation will result in a penalty worth ten percent of their land price.
Certain projects have quite a number of unsold units. The more unsold units a project has, the higher the possibility of a bigger discount. As of this writing, the following have unsold units that may be discounted for a fair price:
1. Pollen & Bleu by Singland Development Pte
2. Neem Tree by Aylesbury Pte
3. Michael’s Residences by B+M Avenue Pte
4. The Crest by Wing Tai Holdings, Metro Holdings, Greatearth Holdings
5. Mon Jervois by Singland Development