Buyer's Market?

Recently I have been beset with phone calls by property agents. The gist of the message they wish to convey is that prices of properties have fallen quite significantly, and that it is currently a "buyer's market". In a similar fashion, the prices of vehicles have dropped sharply, thanks to a disproportionate reduction in Certificate of Entitlement (COE) prices the past week.

What struck me was this, indeed prices of both property and vehicles have fallen, and for those with sufficient cash to make them kings, they could indeed live such a lifestyle in this current time in a sustainable fashion. However, for those who hanker after such material possessions but lack the necessary cash on hand, a little more thought needs to be put into making such purchases. 

For instance, property that has good rental potential may be a good move for people who would like to own one but who also worry about their cash flow, particularly if they are employees. The situation for purchasing vehicles on hire i.e. through loans from financial institutions is also hampered somewhat by the current reluctance of such institutions to grant credit to individuals.

So the short answer to whether currently it is a buyer's market for property and vehicles is simply, 'Yes, if the buyer can indeed afford it in a sustainable manner.'