Is this a good time to buy?

That is the question I get a lot as a real estate agent. 

And the straight, clear answer is - buy that property when you really like it, when it fits your criteria and is so unbelievably within your budget. Now, within the budget can mean a little on the plus side, because you really dont want to miss that ideal property that is just slightly above what you have budgeted for. A property is not a shirt, a bag or even a car. There is only one of each kind, even within the same block, the levels are different and the condition of the place is different. I think you should know what I mean. 

However, if you are reading this and you are saying, "No that's not what I mean, I mean is this a good economic environment to buy into?", then I will understand that you are not an urgent buyer, you can take your time which is good. Do extensive homework on all the locations you are keen on, speak to a banker and get all in-principle loan approval done and view as many places as you can, so that when you see THE one, you know that is the one you got to buy.

I think most people knows that Singapore is a small country, land is scarce, good property are limited too. Sometimes the prices will seems high because demand outstrips supply for that quarter or year. However the fact is, the Singapore government keeps an eye on the property market closely, and adjust the supply by way of land sales or roll out new policy to regulate demand.

What I am saying is, if you keep a long term view of the real estate market in Singapore, the outlook is positive because of the unique conditions of this country. In any case, there should always be a long term view of real estate, a minimum of 5 to 10 years or even longer. Afterall, it is not a shirt, a bag or a car, it doesnt goes out of fashion in blink of an eye.