With property prices in Singapore down by more than nine percent since their peak in 2013, the market appears to be stabilising after nine rounds of cooling measures. In this buyer’s market, you should consider buying a home for own stay or investment, but remember to do your due diligence and study the market first.
There are several types of properties available for sale, such as resale homes, new launches and newly-completed properties (TOP projects). TOP projects allow you to move into a unit after certain building requirements have been met. If you are in a hurry to move, there are a number of projects nearing completion with units for sale, such as The Trilinq in Clementi and Mon Jervois in prime District 10.
Under current rules, property developers must complete a project and sell all the units within five years of purchasing the site. To beat the deadline, some developers have begun to sweeten the deal by reducing prices, while others are offering incentives.
Meanwhile, we’ve put together a comprehensive guide of why you should consider TOP properties, which projects to watch out for, and what you need to know before the big move. Enjoy the read.