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by OrangeTee & Tie Pte Ltd.

Redbrick's Eugene Huang; Reflection of a mortgage broker

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Singapore, 19 Mar 2021

SINGAPORE (EDGEPROP) - The spike in HDB resale transactions and to a certain extent, private residential property transactions, has been “a knee-jerk reaction”, says Eugene Huang, founder and director of Redbrick Mortgage Advisory. He likens it to his purchase of a Brompton bike last November.

He reckons it is this same restlessness due to the Covid pandemic that has fuelled the housing market this past year. “People who didn’t lose their jobs are feeling quite rich — they have nowhere to spend their money because they couldn’t go on holidays. They are working from home, and that has spurred the need to upgrade,” says Huang. “Once taxes and mortgage payments resume, and life returns to normal, that emphasis on upgrading could lessen.”

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