During this pandemic situation, everyone has one doubt: How is real estate working? and had a confusion that, is this a good idea to invest in Singapore property!
THINGS TO LOOK AT :
Here are some points that will help you to get clarity
- Property prices are going down.
- Interest rates during this COVID-19 are very less.
- Better returns in property investments.
- Following safety measures and precautionary actions against coronavirus.
Because of Lockdown during this covid time property prices are falling about 8% this year. Maybe the many new projects that are unsold made the developers down their prices or offer discounts. Prices of Wallich Residence are changed, and discounts are provided on specified units. So, this may be advantageous to Singapore property buyers.
As the interest rates are reduced due to the pandemic situation, a fall in interest rates on bank loans gives the investors back support to grow their business. This decision is giving some relief for economic problems, and somehow helpful for the future.
Recession means the period of economic downturn, where businesses are in less demand and begins to lose money. there is less competition from other buyers and properties are unsold longer on the market, so the sellers are more willing to make concessions and negotiate, which means the seller will pay closing costs, by considering this we can step forward to buy Wallich Residence
We know that the return on investment on the property is always higher than in other sectors like the stock market, gold, etc. Once we invest some amount in property it will never go down, the value of the property will increase for sure. If we have enough money in hand, investing in the property is a better option to secure life.
From the start of COVID-19, more than 20 million jobs have been wiped out and more than 51 million Americans have filed for new unemployment claims. It is no secret that COVID-19 has hit lower-income households more so than others. But homebuyers tend to be higher earners, who have been less impacted by the economic shutdown.
And now, all the property sellers and everyone in the field are following safety measures against the pandemic situation and taking precautionary actions with the help of great technology. So, it is not a reason to say no to Singapore property investments.
Real estate licensees will ensure shown properties have proper sanitation products, including hand sanitizer, face coverings, and disinfecting wipes, for use by visitors as needed. No showing should take place if these products are not available to those entering the Singapore property-Wallich Residence.
Shown properties are having commonly used surface areas that are cleaned and disinfected before and after each show. Examples of commonly used surface areas are counters, door and cabinet handles, key lockboxes, keypads, toilets, sinks, light switches, etc. Disinfect mobility and safety fixtures on the property such as handrails and banisters, doorknobs, and locks.
Unless the property is cleaned and disinfected before and after each show, no shows may occur. Sanitizers must be recognized by the CDC as effective in combating COVID-19. Hope this will help you.