January 2021 Private Home sales surged

Hey guys, we’re coming to another new week of WonderHome.sg updates again! This week, we are going to talk about the recent highlights on the private home sales surge in January 2021. While many are raving about the spike in home sales, have you thought about how it is going to affect you as the next homebuyer, or even as a homeowner today?

This January saw the number of private property transactions surge from that in the previous month, by around 32%. This striking phenomenon is likely, in part, due to the many reported news on the additional cooling measures that may be put in place.

Recent statements the government made, have also added to the speculation of cooling measures. Stressing the need for the property market to stay in line with economic fundamentals, Deputy Prime Minister and Financial Minister Heng Swee Keat noted that a "significant mispricing of asset prices" is a potential issue that could arise, as home investors seek to leverage the current low interest rates. Therefore, many homebuyers and home investors are expecting the government to implement additional cooling measures, in a bid to temper the zeal for property.

This has, in turn, prompted homebuyers and home investors to purchase properties before the potential implementation of further cooling measures. Hence, the steep rise in the number of private property transactions had occurred this January.

Will this transient spike in the demand for property affect you? This strong demand for property now, will then bring on even higher property prices for homebuyers and home investors. Coupled with the limited supply & increased in demand lately, overall home prices are expected to rise naturally.

While some home buyers & investors have been hoping for home prices to go down during Covid-19, the truth is, till date, prices have been going up steadily, with no sign of bubbles since cooling measure like TDSR & LTV have been in place to curb over-borrowing,

Can you imagine the prices after Covid-19 or just a couple of months down the road? While over at Wonderhome.sg, we do not encourage panic purchase, it might be time to check out what are the best buy deals in today’s market! Thus far, we have assisted many homebuyers and investors in their property investment journey. Whether you’re looking for a short or long term investment, we can help you to customise a unique investment plan suitable for all budget ranges. Keen to find out more? Check out our website at www.wonderhomesg.com, and drop us a call today.

Pamela Tan: 9457 6525

Shirley Wang: 9436 1909