Property hunting has never been so awesome with Virtual 360 Tour! Or they may face ongoing competition from the supply of new homes.Every crisis brings with it price volatility, but analysts said that historically, property prices in Singapore have always recovered quickly after each economic shock.This was the case during the Asian financial crisis more than two decades ago, as well as during the 2007-2008 global financial crisis.PropNex Realty CEO Ismail Gafoor, who described the situation towards the end of 2008 as “panic”, said that the current situation is different because the whole world has been affected by the pandemic.“One of the biggest concerns at that time was not knowing where the bottom was, who was going to go bankrupt and how many of us would be dragged into it,” said Mr Ismail of the 2008 crisis.Such uncertainty led to panic selling in the real estate market in Singapore, and During the global financial crisis, many investors were affected by the situation in the United States, said Mr Ismail.The current pandemic, however, has shut down the entire world “so nobody is panicking, no developer is slashing prices and therefore people are holding and people are accepting that this is something that needs patience to ride over,” he added.He expects that property prices will be able to remain at a "reasonably strong position" because of demand from foreign interest and government policies.Singapore has introduced various measures to maintain stability in the property market, including the total debt servicing ratio and the mortgage servicing ratio.Last month, it was also announced that buyers who entered into agreements to purchase homes from developers can apply for temporary legal protection should they face difficulties making payments because of the COVID-19 pandemic.Another difference from the 2008 crisis is that interest rates are at historically low levels, meaning it is cheaper now to get a housing loan.Analysts said this has spurred both locals and foreigners to continue to shop for property in Singapore.ERA said it sealed several deals with Chinese buyers during the circuit breaker period, after giving them virtual tours.“Because the yuan is depreciating, [Chinese buyers] are actually looking to invest overseas to preserve their wealth ... And Singapore naturally being a safe haven and being very well managed and a safe place, attracts these type of buyers," said Mr Eugene Lim is key executive officer at ERA Real Estate.Market watchers also said that developers have limited room to cut prices.Mr Vijay Natarajan, assistant vice-president of real estate at RHB Securities, noted that during past crises, the margins for developers were “quite healthy” at about 20 to 30 per cent.“This time around, the margins have fallen.

We will guide you through 3 simple steps to create a virtual tour that is highly interactive and easy to use for its users.It is easy to create an awesome impression of your property and maximize its exposure. Mediacorp Pte Ltd. All rights reserved.

All Rights Reserved. Get our Property Virtual Tour Software Start your Free Trial today! This service is not intended for persons residing in the EU. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Similarly if it does go up over time, it is also at a measured pace ... It’s not affected by the ups and downs of market sentiment, largely because such flats are bought and sold for owner occupation,” said Mr Lim.The current situation does provide some opportunities for buyers, said Mr Ismail. Singapore Property Festival is BACK -- as a virtual exhibition! Some sectors of … By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Marina One Virtual Tour Project Detail Project Name MARINA ONE RESIDENCES Road MARINA WAY Location Local District D1 – RAFFLES PLACE, CECIL, MARINA, PEOPLE’S PARK Region Central Region Broad Region Core Central Region (CCR) Country Singapore Category NON-LANDED RESIDENTIAL Model CONDO Developer MS RESIDENTIAL 2 PTE LTD Expected Top T.O.P OBTAINED Expected Date Legal …

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