Buying new condo units isn't a profit guarantee

[Arcachon]

https://www.edgeprop.sg/property-news/buying-new-condo-units-isnt-profit-guarantee?utm_source=Whatsapp&utm_medium=news

Just because most agents you meet told you that does not mean all agents said the same thing.

[PropVestor]

No one in my circle buys property because the agent said 'so and so'. If you are that clueless, it's entirely you, not the agent.

Prop tech is probably going to disrupt the industry like what Fintech is to banks but in a small incremental way ... first.

It is not happening, it has already happened.
https://www.directhome.com.sg/

Property guru has to someday slay its golden goose from agent ad fees but is already prepping for it. Starting with PG Finance.

What an interesting world we live in today. Disrupt or be disrupted.

[ay123]

so is a better bet to find those project that already selling in loss then new launch? ppl always say new launch price is controlled by developer so the price will appreciate according to developer

[PropVestor]

This works for new development:
1. Land bid price (the most important factor to determine if you will be an eventual sucker or not)
2. Cost of Build + profit margin padded to it forms the developer asking price
3. Microsite premium over asking price (past transactions around the site)
4. Taxes you have to pay (or not)

Some old sage at the Poker table says this “If you can’t find the sucker at the table, you’re it.”

I never did expect property prices to hold up that well and this long around the world (phenomenal not just in Singapore but alot of property superstar cities).

Social distancing has made commercial property lose some shine and money is re-casted on residential with slightly larger quantum (2-bedders more appealing now than 1 bedder or studio?) and/or mixed developments with live-work-play proposition. You cannot keep staying at home but would like amenities to be at arm's length.

In short, value is what you perceive but price is what you pay. Re-sale or new regardless.