3 Things to Note Before Purchasing a Resale Property

3 Things to Note Before Purchasing a Resale Property

1. Property Age & Remaining Lease

For HDB, the remaining lease affects both loan eligibility and resale value. For condos, older buildings may require more maintenance and en-bloc potential varies.

2. Renovation Condition

Factor in renovation cost:

• Electrical rewiring

• Waterproofing

• Kitchen & bathroom works

  
  

  Resale units may offer more space, but reno can significantly add to your budget.

3. Surrounding Environment

Check for:

• Upcoming construction

• Road noise

• Sun direction (west sun!)

• Neighbourhood upkeep

  
  

  A site visit at different times of day is crucial.

Is It a Good Time to Enter the Real Estate Market Now (Despite the Weak Economy)?

The economy may look uncertain, but the property market is driven by long-term fundamentals, not short-term fluctuations. Here’s what to consider:

1. Interest Rates Are Stabilising

Mortgage rates have cooled from their peak, easing monthly instalments for buyers.

2. Supply Remains Tight

Despite more launches, Singapore’s demand—especially for well-located units—remains strong. Historically, prices tend to remain resilient due to limited land supply.

3. Opportunities for Serious Buyers

In uncertain climates, motivated sellers appear, giving buyers a chance to negotiate better deals—especially in the resale market.

4. Enter Based on Personal Readiness, Not Headlines

The best time to enter the market is when:

• Your finances are stable

• You’re buying within comfortable affordability

• Your purchase matches long-term plans (5–10 years)

Trying to time the market rarely works—you gain most from holding a good property over time.

Final Thoughts

Whether you’re selling, buying new launch, or considering resale, preparation is key. With the right knowledge and professional guidance, you can enter the market confidently—even in a challenging economy.