Shanker said that in any market no matter how adverse the market is, there is always opportunity.
“In an adverse situation like this, like what we are facing currently presents an opportunity for the smart and discerning investors,” he said.
“No matter how bad times are, transactions in the market never actually go to zero. Transactions will just reduce a little bit. Even during the worst of times, transactions are never zero. There are always buyers, and there are always sellers.
“If you are a smart buyer, and you have saved your money and your cash flow isn’t affected by the current situation, you should now bargain hunt,” he said.
Shanker believes that over the next few months, more and more people will find it hard to service their loan as they could either have lost their jobs or had a pay cut. To make ends meet, they will put their property in the market.
He said looking at this situation, a smart investor will be able to pick up a good bargain in the coming months.
“Once they have bought the property, they can get a tenant in so there is rental income, and when the market moves up, they can sell it for a profit.
“My advice to buyers is, when everyone is rushing to buy, you should be selling, and when everyone is rushing to sell, you should be buying,” he said.
Shanker also advised buyers to do careful research before buying anything and to seek the advice and services of suitably qualified and registered property professionals.
“Most people make the mistake of only doing research when they want to buy and if they do that they will never be able to get a feel of how the market behaves. Whether you are on a buying spree or not, continue your research. After a while you will automatically have a feel of how the market is like and you will be able to make better decisions.
“Alternatively, get a qualified property professional. The value a good consultant can bring to the table is immense and can be more than worth the fee you may have to pay,” he said.