Since 1975, private residential property prices in Singapore have risen dramatically. The first peak was in 1983, two years after the stock market crashed and then in 1986(recession in Singapore). Prices rose steadily again after that till the next peak in 1996 before Singapore was hit with the Asian Financial Crisis. From 1999 to 2004, prices dipped due to a string of events – Gulf War, Sep 11 attacks, SARS and the Tsunami. Since 2009 till now, prices have steadily gone up and with government intervention and introduction of cooling measures, prices have stabilized.
What does this mean? Is this the time to buy? Many ask “When is a good time to buy?, When is a good time to sell?. It is like asking When is a good time to save?
There is no good or bad time to buy property. Timing is not the key here. Price Affordability is.