Monday, April 14, 2014

Stage 3 - Finally sold the house

It has been a while since I last posted that I had put up my flat for sale. Yes, it took THAT long to actually get a buyer that can offer a reasonable price for my flat.

To put it shortly, from 27 August 2013, SPR household (i.e. a household with no SC owner) will have to wait 3 years from the date of obtaining SPR status before they can buy a resale flat. This ruling really affected the market as demand side plunges while the supply was still abundant.

On the good side, this should have happened long ago before the prices spiral to the state a year back where the COV is crazy.

The market now is really good for buyers, especially those who are just buying. For those like me, selling and buying again, it does not really make much difference as I sell low and buy low too. Those who are just selling are the ones who are affected the most especially those who never saw this coming and made plans based on forecast that prices will keep increasing.

Anyway, I am just glad that I finally can now choose a new unit even though those that I like back then are all gone.

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