First Guru Talk in 2017 draws crowds
A large crowd turned up at the recent Guru Talk seminar, which was held at the Kingsford Waterbay showflat in Upper Serangoon.
Visitors to the Kingsford Waterbay showflat were given property market insights and feng shui tips to help them make more informed decisions.
By Mindy Chong
Parts of north-east Singapore have seen tremendous development following the announcement of the HDB’s Remaking Our Heartland (ROH) plans in 2007. Punggol, conceived as a residential eco-town, has become one of the most sought-after locations amongst local and foreign investors. In recent years, its population has more than doubled from 52,700 to 118,100.
Despite the government’s efforts to stabilise the housing market by introducing more cooling measures, homes in the north-east remain popular, having been launched at lower prices. Due to its proximity to bodies of water, many buyers are also looking for a waterfront living experience in the area.
But the question remains as to whether 2017 will be a good year to buy residential property. This issue was touched on during PropertyGuru’s recent Guru Talk seminar held at the Kingsford Waterbay showflat in Upper Serangoon.
Guru Talk is a series of knowledge empowerment seminars aimed at providing “Guru Views” on the property market.
Held on 14 January, the seminar drew a strong response, with 135 visitors turning up to get detailed insights from two industry leaders – Lim Yong Hock, Key Executive Officer of PropNex Realty and Master Goh Guan Leong from Way Fengshui Group.
The seminar began with Lim providing an overview of the progression of non-landed property prices in Singapore over the last 30 years, as well as investment opportunities.
“From 1986 to 1996, property prices rose by 193 percent and then dropped by 42 percent during the Asian Financial Crisis. In 2003, the property market was flat and this was predicted to be a very good time to make a purchase. If you compare property prices in 2003 and now, investors who bought properties then would have made a 62 percent gain. Today, property cooling measures are implemented to stop speculation and stabilise prices,” he said.
Lim noted that the top five risks now facing investors include the cash budget, bank loan limitations, the investor’s age, housing loan interest rates and government policies.
He predicts that the cooling measures will not be removed anytime soon, but will be tweaked instead. This is to keep prices stable and allow local investors to purchase a home for themselves, or to rent out.
“Looking at Singapore’s average interest rate from the 1990s, it used to be around eight to nine percent, but since 2010, there have been no major fluctuations. Interest rates in Singapore remain at one percent. Today, loans for purchasing property remain at 80 percent (for the first property), 50 percent (for the second property) and 20 percent (for the third property),” he noted.
Attendees were also given an overview of the north-east zone, which includes Punggol Town Square. As part of plans for the North Coast Innovation Corridor, Punggol will be transformed into a creative cluster and learning corridor.
Other new developments in the pipeline include the Cross Island Line (CRL), which will commence operations by 2030. To soften the landscape, greenery has also been added with new parks and park connectors, such as Punggol Promenade Nature Walk, Punggol Point Park, Riverside Walk, Lorong Halus Wetland, Sungei Serangoon Park Connector and Punggol Waterway.
Attendees later got to listen to feng shui tips from Master Goh Guan Leong of Way Fengshui Group. Ten lucky attendees also walked away with lucky draw prizes worth up to $800.
Overall, the attendees were happy with the insights provided on the master plan for the north-east region, and how the performance of projects there will benefit them in the long run.
If you missed the seminar, please watch our video at bit.ly/2iAuZEU. For more information on upcoming Guru Talks, go to: www.pgevents.propertyguru.com.sg.
This article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now! | |||
