Time to sell your properties
'Soaring property valuations have sent the net wealth of households in Singapore rocketing to an all-time high of S$1.16 trillion (US$886 billion) in the third quarter of this year. That is 29 percent up from the height of the financial crisis early last year, and higher than the S$1 trillion that households registered a year ago, itself a record.' This is a piece of good news that is in the media. The bad news is COV is coming down and prices of resale flats are also sliding down. And the full impact of the control measures have not taken effect yet. This is the time to sell high and buy when property prices come tumbling down. When property prices peaked, it is time for it to wind down. The cycle always repeat itself. Looks like a $1m 3rm HDB flat is not going to be. With the projected price hike of 2 to 3% annually, it will take donkey years to reach this number. My dream of being an emperor in Lijiang is fading away. For those who are not selling, they can keep smiling while the price is still high.