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The SIBOR is set to go down further as more countries are looking to cut interest rates. With a decrease in the cost of borrowing, it bodes good news for the well-prepared who have the capacity to purchase a property at this point in time. Additionally, we are entering a rare scenario in which we are looking at an oversupply of properties in Singapore. Both of these coupled together would mean it is not just a buyer’s market, but also the perfect time for a buyer to enter.
However, this perfect buyer scenario we are in may not be for long. A slowdown in property transaction activity will eventually build towards a pent-up demand in the market, which will continue to push property prices higher post-crisis, which we saw happen after the end of ‘97 Asian Financial Crisis, ‘03 SARS, and ‘08 Global Financial Crisis.
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