Property Market Sentiments

[VIChris]

This is a lose money deal. The seller bought the unit in 31 Oct 2012. Even if the seller don't pay any ABSD, he also need to pay 3% buyer stamp duty, and 16% SSD. Add in the 1% agent fees, he immediately lost close to 20%. His $1.1M is left with $880k, vs his purchase price of around $949k.

Are people desperate enough to exit the market at a loss now?

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By the way, pass by the development last night. It is almost pitch dark. Not many people move in yet...

Let the market peaked slowly and when equity & economy crash within a few years time, let the property market crash or have a very deep correction. We will have our fair share of buying.

I would rather be a contrarian. When everyone sell, I will buy with strong fundamental.