Hi,
1) You are planning to do so because you are assuming the future price is going to drop.
2) You have to ask yourself when is the endpoint of dropping that you are able to accept and buy again.
3) In reality, very few sales are done when the property price dropped in 2014. Those that buy are those with immediate needs and didn't worry about whether they are gaining or losing.
4) An average resale number is around 12k, the sales in 2014 are 5k only, less than 50%, this is the lowest in the past 10 years.
5) Thus the plan of sell and wait for prices to stabilize seems won't work for you. It is either you stay put or sell and buy again immediately after selling.
6) If you are buying resale it is just a shift of location. So maybe it is just a change in the cost of living.
7) Just for the record, private property price is always on the rise except for the percentage of rising is suppressed by the govt cooling measure.
8) This is also the main reason why PPI (Property Price Index) did not increase as much as all the 1st world cities around the region.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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