X-Value is a good tool for estimating the value of your home at any point in time.
Once you have your home's value, you can estimate how much you stand to make if you were to sell it today.
Estimated earning on your home = XValue - purchase price.
Recently, the Straits Times ran the headline: Lights off on Singapore's Sentosa Cove as luxury house prices plunge.
So we decided to check out how many condo owners in Sentosa would make money if they were to sell today.
According to SRX Property, over half of the owners in the nine condominiums (Sentosa 9) located near Sentosa Cove would lose money today if they sold their units at their X-Value, which is the computer-generated market value for each home in Singapore.
In 43 cases, or about 4% of the units in these nine condominiums, owners would lose 40-50 per cent of their purchase price if they were to sell at each unit’s X-Value.
While the Sentosa 9 experience may not be indicative of all property areas in Singapore, what has happened in Sentosa serves as a cautionary tale for all of us. Read more.
Source: SRX (15 Sep 2014)