Dear readers, I recently read a report that highlighted how Core Central Region (CCR) properties including condominiums may benefit from the easing of travel restrictions and the gradual easing of international travel to Singapore.
Sales for the CCR properties have not been doing well as compared to the Outside Central Region (OCR) condominiums and Rest of Central Region (RCR) condominiums since Covid-19. This has hence led to some condominium prices in OCR and RCR performing better than CCR for new launches. It is also the reason for the narrowing price differences between OCR/RCR condominiums and CCR condominiums so much so that some buyers interested in non-CCR condominium may choose to pay a little more for a CCR condominium for the longer-term benefit including a more premium address.
If more international properties buyers are coming back to Singapore, albeit gradually and buying the CCR condominium, CCR condo prices are going to benefit and hence benefit investors.
On the other side of the coin, CCR properties have often been the most hit whenever there is a global recession as international buyers pull out of the Singapore’s properties markets. And there has not been a global recession since year 2009. Some have been saying that the risks of a global recession are more now, especially with the development of the current global power episode.
Ultimately, to invest in CCR properties now or not is a judgement call for investors. I would suggest investors to invest in CCR properties only if they have a large warchest since with Covid-19, the outlook of a new normal is now not as clear. Otherwise, it pays to wait a little while.
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