Buyers with holding power will be able to make a profit as they are able to wait out the market and sell at a higher price.
The property market only decreased 1% when Covid emerged and rose 7.6% within 2021 (UN said Covid death toll is worse than World War I & II combined)
The key takeaway is therefore to focus on the long term. With ABSD removing speculators from the market & the new TDSR of 55% plus the bank's stress test of 3.5% - buyers now are able to hold onto their properties and not resort to fire sales
As land is scarce in Singapore, government land sale (GLS) land parcels are sold at higher and higher prices among developers who are hungry for land parcels
Below are examples of the price difference for properties in the same area and sizes
over the past 4 years from 2017 to 2021
over the past 4 years from 2017 to 2021