Singapore is heading into recession YET property prices are GOING UP?
Good day readers! It was an eventful circuit breaker for me. From packing food to delivering groceries to relatives. It will be 3 weeks before the end of the circuit breaker and I am sure many of us would love to head back to work (or not). I ,myself, am anxiously waiting for the 4th of June yet I should not be too happy yet as the plans to lift the real estate work is not certain. As of late, there are a few major decisions that the "circuit breaker troupe" has planned for. 1. Allow the construction sector to resume work from 2nd June.
2. Implement safety measures in construction sites.
3. BTO projects among the first to start after circuit breaker.
The announcements are generic at the moment with Minister saying that there will be a lot of considerations and draft implementation for curbing transmissions at construction work sites. It seems like we have to wait till the end of May for more details. More importantly, it seems that the companies have to bear the costs of testing and providing safety equipment for the workers. I am sure there are other cost involved, such as lodging and food for the workers. If companies have to bear the cost, at the end of the line, the consumer's purchase price will be risen to factor in the cost of curbing the transmission.
Would it make sense to buy now/earlier?
We all know that there are 3 major factors that determine the cost of an apartment.
1. Land Price.
2. Materials. 3. Labour.
And now, we can add in 4. Circuit Breaker.
On a serious note, have you wondered why people are still buying New Launch apartments?
Also, resale value has not dipped till fire sale? Come, I tell you ok? Call me. (: