Given present market scenario (Aug 2014), will the EC home cost come down in the long run?
Your guess is as great as mine. We can crystal ball the pricing tendency that is future. But, we do know for conviction, that there are only 3 ways costs can go in the close future:
a. Up North. The writing is on the wall the age of low rates of interest will shortly be over.
b. Flat. The property cost for Punggol EC continues to be inching over time. Thus, if there isn’t any outside jolt to the market, it’s not incorrect to suppose the costs will continue to go up along with increasing and inflation cost of building.
c. Down South. If EC costs do really head south in the long run, in case you purchase an EC unit to your private condominium, there’s really less to worry. The reasons
This buffer would be greater if you had chosen to have the home grant and are eligible.
It efficiently helps to ensure no similar component from an identical job is going to take the resale marketplace through the building plus MOP interval (8 years), lowering the chance of margin calls in the financial institution.
Having an eye to another General Election (due 2016), there are strong views the Authorities may turn cooling measures into ‘exciting measures’ to reasonable costs drops if needed. Put simply, unless there’s a market shock, any cost drops will not be sudden,
Like stock exchange, what goes down will finally comes back. It’s only an issue of time before costs turns up. The upturn may occur from the time your unit is completely privatised. Looking back at history, those that purchased EC around the late 1990s’ summit and put the early 2000s’ underside might be laughing to the financial institution. Their unit that is completely privatised is currently at a fresh market not low.
To sum up, property is a long-term investment. If purchasing an EC unit is in your means, if you’re able to locate a job that fulfill your needs, my idea would be to go ahead and reserved a unit.
The earlier you determine, the better your possibility of picking out a selection component, the earlier you are going to possess a ‘place called home’ and never to be concerned about affordability if costs stays flat or continue its uptrend.
New Executive Condos launching this year will be Sol Acres, Canberra EC and Westwood Residences.