Thinking of Buying a Home? Be Cautious!

 Thinking of Buying a Home? Be Cautious! 

Authored by Raymond Tiah

The property market is heating up, but before you jump in, take a step back. "Sentiment-driven psychology" is pushing prices higher, and many buyers are making emotion-driven decisions they may regret later.

Why You Should Be Careful

The property market moves in cycles—if you pay above valuation, you risk financial loss when the market corrects itself. It’s not a question of if, but when.

🔹 Pro Tip: Always plan wisely and avoid stretching your budget.

Market Reality: Record-Breaking Prices

• In 2024, 1,035 flats were sold for $1 million+, more than double the 469 transactions in 2023.

• These sales are mainly in prime locations, but they’ve influenced sellers everywhere to raise prices.

Why Are Prices Rising?

✔ ️Buyer FOMO (Fear of Missing Out) – Many are rushing to buy, worried prices will climb even higher.
✔ Emotional purchases – Sentiment is driving up resale prices beyond affordability.

📌 "Sentiment-driven psychology has contributed to rising public housing resale prices."

More Housing Supply is Coming!

• 130,000 BTO flats will be launched between 2021 and 2027.

• 30,400 flats are expected in 2026-2027 alone, helping stabilise supply.

What Should You Do?

• Stay informed – Don’t buy based on emotions or market hype.

• Be patient – New housing supply will help moderate prices.

• Think long-term – A home is a big financial decision—plan carefully.

Take Action

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