With luxurious house prices in Singapore still to fall, this moment could be the right time for real estate investors to make a purchase for Westwood Residences. As reported by Alice Tan, Research Head at Knight Frank’s Singapore office. This is because prices of properties has started to decrease and the softer prices mean that some buyers are entering the property market.
Westwood Residences EC Buying Interest
Luxury part of the real estate property market has been drastically plagued by the government’s various rounds of cooling measures on the real estate market. Real estate property consultants was quoted announcing in a marketing report that luxurious properties located in the core city centre have seen 5 successive periods of price reductions. Demand for Westwood Residences has been artificially depressed due to the introduction of the Total Debt to Service (TDSR) property measures which restricts buyers on the amount of loan which they are allowed to take.
Interest for Buying Westwood Residences
In addition to that, property experts expect purchase prices with this section to stay dipping in the rest of the year due to insufficient demand for Westwood Residences. This sounds great news for real estate sellers and investors, but for real estate buyers who are planning to purchase a luxury real estate, there is a time frame to obtain a dream property. Analyst except this to be coming soon as lower prices mean buyers are able to borrow their desired amount easily.
Koh Brothers EC at Westwood Avenue
Sluggish opinion on the real estate investment outlook and also the prospect of even more drop in property prices for Westwood Residences will reduce the number of transactions amounts inside the private real estate market, especially of resale homes. It is also pointed out the government’s reluctance to let go the house and property cooling measures especially the TDSR at this time, real estate investors continuing to adopt a wait-and-see method and cheaper properties elsewhere as some of the factors having buying interest down.