Condo prices starting to drop?

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Condo prices starting to drop?

Post by Aliya34 » Wed, 16 Sep 2020 5:38 pm

I see some district prices seem to be transacted lower, looks like the effects of the pandemic is showing, people losing jobs, uncertainties starting to show.

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Max Headroom
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Re: Condo prices starting to drop?

Post by Max Headroom » Thu, 17 Sep 2020 10:54 am

I think it's safe to say that this is just scratching the surface, given that the Covid-10 fallout has only just started gaining traction and worse is likely to come.

Sure, there's ammo to offset some of the property decline, but either way, we're in for some interesting times, especially for those who just bought in.

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Re: Condo prices starting to drop?

Post by sndy » Thu, 17 Sep 2020 2:24 pm

Damn, why did i took a two year contract this feb

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Re: Condo prices starting to drop?

Post by TropicalExpat » Fri, 18 Sep 2020 11:51 am

The gahmen has acted in the past to prop up the housing market. They do this by lowering the supply of land available for sale for private residential housing.
They did this during the financial crisis and did it again in June this year.

Now this won't necessarily stop prices from falling, but should slow the fall. And in theory, they should just stop land sales period.

What will likely be affected is condo rentals. As sndy demonstrates, there are a number of people who are recently locked into rental contracts. However, as an increasing number of contracts come for renewal, what with expats leaving, it is reasonable to expect rental prices to fall.

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