I realized I have this 1st-world problem – no more storage space on my iPhone to take photos. I have to start deleting some photos 🙁
So as I scanned my photo album deciding what photos to delete, I realized I had a lot of meetings with various people and clients throughout this year.
When I looked back at the number of people who contacted me via WhatsApp, Facebook PMs and email – there were at least 150 people. I stopped counting after 150 names.
My messaging has always been consistent – consider looking at your property especially the one that you are staying in as part of your investment portfolio.
Some people might view their housing loan as a liability but there are other different viewpoints as I shared in this article.
Now in 2017, it seems that all indicators have shown that prices are going to go up.
In 2015, It Wasn’t So Clear Cut & Obvious
In 2015, which was 2 years after the cooling measures was implemented – the market sentiment was still neither bullish nor bearish.
But I remembered the strong resistance to enter the property market.
However, I have done my homework and I was confident on my analysis on potential future prices. My belief then – was that demand will go up and the price will follow suit.
My client George, upgraded from his 5-room HDB Woodlands flat, to a Sims Urban Oasis condo and another condo in the West. He made the decision and even chose to buy 2 properties in 2015 – even when the market sentiment was so uncertain.
He invested in Sims Urban Oasis condo at an entry price of about $880K. The average psf was $13XX then.
(To protect his privacy, I chose to highlight a similar unit bought at the same time. His actual entry price was lower than $880K.)
George’s confidence paid off.
Right now in 2017, he is probably sitting on a paper profit of about $100K.
The average psf has increased to $14XX psf with an increased quantum of $9XXK.
(Do take note that the prices vary due to different floors that provides different views. A swimming pool view will command a higher price.)
I have to give credit to George for being open and trusting my assessment on his needs and investment goals.
(He still refers me clients – even now 2 years later!)
In 2017, reflecting back on 2015 – it seems that in hindsight it was “easy to say” & “predict” prices will go up.
But the truth is, the property market is a weird cycle that is highly dependent on the government’s cooling measures, developers’ appetite, buyers’ confidence and a whole host of other factors.
That’s why my insights & observations have to be carefully calibrated and balanced with supporting data.
150 Appointments Later – What I Learnt
As I scanned through the photo album in my phone, I realized I have met and helped quite a number of people. There were also a lot more people that I didn’t take a photo with.
What I am happy about is that I managed to share the importance of re-balancing your property portfolio with so many different people. I have helped quite a few couples to re-look on their initial property choices and consider other property options instead.
Not everything on the market is a great buy.
Some properties have a monthly installment that is HIGHER than the potential rental rates. Can you imagine buying a property that if you chose to rent out – can’t even cover the monthly installments?
There are some properties that are considered “cheap” due to its freehold status but is nowhere near any future URA Masterplans. Would that property still be a good buy?
There are a lot of misconceptions and assumptions that people have – usually backed with little to no data. Basic fundamentals that are poorly misunderstood will always lead to the wrong conclusions.
Of course, not everyone I meet chose to proceed or even follow my advice. This is part & parcel.
But at the very least, I am sure they walked away with a clearer understanding of what makes a a certain property a good investment/buy.
My place here is to add value to all my clients and provide concise insights based on solid property data.
The window of opportunity to take advantage of the current situation is actually getting limited. Why do I say that?
Simply put, the best choice units – are quickly running out. The best products will be sold out soon.
If you are already in the market for a property, I invite you to contact me to arrange for a free assessment. The simple fact is I have gone through so many different types of transactions – I sincerely believe I have some deeper understanding and observations that can be useful to you.
Let’s see if I can add value to your future investment goals or property housing needs.