Should I sell my flat and rent till property prices drop?

Should I sell my flat and rent till property prices drop?

I bought my flat in 2007, and am sitting on about $300,000 in paper profit. Should I sell it and rent a place till prices come down again?

Property prices are expected to drop because the Government will be building more flats in the next few years. Over 17,000 new homes will be completed in 2013, as well as in 2014.

Other factors such as the euro zone crisis and Government policies aimed at cooling the market - such as the additional stamp duties on foreign buyers introduced late last year - could also limit how high property prices can go.

"What you decide should depend on how sharply you expect prices to fall, and whether a moderate dip is enough to justify the disruption of moving house.

Given that the property is your home, rather than an investment, do take into account the hassle involved with selling and renting, as well as a rental lease that will lock you in for at least one year."

- Harn Ho, a property consultant and editor of www.asiapropertynews.com.sg

Her World, Singapore’s No. 1 women’s magazine published by SPH Magazines is available at all newsstands now.

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