Property expert shares winning strategies for Singapore market

OrangeTee & Tie’s Donald Lin advises focusing on buyer sentiments and pricing slightly above the market range for sellers.

The Singapore real estate market has recently witnessed a remarkable upswing in new home sales, achieving its highest point in over a year.

This surge in sales can be attributed to the launch of four pivotal projects that have captured the attention of homebuyers and investors alike, according to Urban Redevelopment Authority (URA) data.

Interviewed by the Singapore Business Review, Donald Lin, senior associate director at OrangeTee & Tie Pte Ltd, acknowledged that there is a diverse range of buyers attracted to fresh offers in the market and that it is important to keep an eye on buyer sentiments.

Apart from their attraction to new housing units in the market that have unique features and strategic locations, Lin stressed on understanding buyers’ budgets.

“If you’re buying a property for investment, that ranges from $800,000 to up to $1.7 million for a one or two-bedder,” he said, noting that there is a typical budget range for property buyers based on their preferences and use.

Some specific price ranges, though, are for personal occupancy, added Lin who has a wealth of experience in the industry. “For owner occupation, the budget extends from $1.7 million to up to $3 million for the mass market,” he said.

At present, there are concerns about rising property prices, particularly in the central region of Singapore. This stokes the common concern of whether or not it is the right time to buy property in the current market.

In response to this, Lin said: “I always advise clients that there’s never a ‘best’ time to buy. Property prices in Singapore exhibit consistent growth over time. The decision to proceed should be based on their financial capability.

Given the current environment, Lin turned his attention to sellers and offered valuable advice on attracting buyers in the current market scenario.

“For sellers looking to transact their properties, especially those aiming to upgrade or find the right property size, I recommend that they consider selling within or slightly above the market range,” he said.

He pressed on seizing the opportunity whilst also avoiding undue loss due to hesitation.

For more news and updates on Singapore's business landscape, visit sbr.com.sg.