Dulcie talks about how the US and China trade war affects the Singapore property market. What are the type of investment properties that will always have strong demand?
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Here’s the transcript of the video:
For 2019, how do you think it's going to be? Exciting year, tough year? I have a lot of customers telling me their prediction. So what do you predict? From my case, I mean looking at Trump and China, I am a bit afraid of the economy honestly, but I guess Singapore property, the uniqueness is that if your property is close to MRT, There is always a demand whether is it for rental or whether is it for sales, there will still be people looking to buy and people looking to rent but I will say maybe the ones that are badly affected will be your high-end condos because these are the higher end quantum that maybe only the foreigners, the rich foreigners, they can maybe afford to buy. Where as more for the locals they would tend to think about the maybe the price of the property and also whether can their families move in together with them. So I think for the locals they are a bit stringent right now because of the recent cooling measures, they can't own the second property. They may as well have to sell their existing first property before they purchase another property. So I guess there will always be transactions in the market it is just that maybe it would be sluggish for this first half of the year and we are not very sure about the government next step towards the economy and whether would they really loosen up the stamp duty, I doubt so, but hopefully there's a miracle maybe the government can do some changes to the policy. Ok, So I think my personal view is that I think at this point, I don't think any cooling measures will be removed. Of course, you know, Partly because prices are still at quite an all-time high. You look at the recently transacted Even those en-blocs that did go through, Yeah, the psf ppr is very high, Yeah, and I think if we were to remove all this cooling measures, I think the market will start to heat up again. So I personally feel it was quite good that there were some measures in place, although they could be tweaked such that it's not penalising to some segments of the market. I agree.
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