Far East Organization remains optimistic in the long-term prospects of the property market despite the recent government cooling measures.
At a seminar held last night at The Scotts Tower (TST) showflat, the developer told a packed audience that it expects Singapore’s housing market to remain robust as the number of new launches coming onstream is slower than population growth and there will be ongoing demand.
One agent PropertyGuru spoke to said now is the right time to buy property as it is a buyer’s market and they have bargaining power. “The additional stamp duty would probably affect the volume of property transactions, but not the pricing and value of the properties,” he noted.
Although the additional stamp duty affects foreign buyers, Far East is confident that foreigners will continue to seek investment opportunities in Singapore as it is economically stable.
Property seekers who attended the seminar were similarly upbeat. Christina Chang, who is self-employed, said the recent cooling measures would not affect those who can afford to invest and enter the property market.
Meanwhile, Far East is offering a special package to buyers, including a three percent reimbursement of stamp duty and a furniture voucher worth two percent of the unit price.
Related Stories:
Private home sales rise 13 percent in November
Outside Central Region records robust sales
Experts predict house prices will slide