Singapore Expats

I have a feeling that most agent companies list resale prices online (like propertyxx) by inflated 10-25% and pushing housing higher.

bobojin wrote: ↑

Tue, 31 May 2022 8:34 am

I have a feeling that most agent companies list resale prices online (like propertyxx) by inflated 10-25% and pushing housing higher.

Your feelings are not wrong.
Most are not in a rush to sell, given this inflationary environment and a tight rental market.

The thing is, the market still print fresh highs, an
indication there’s still willing buyers out there.

Put yourself in the owners’ shoes.
You’d want to sell it at a better price too.

If you really wanna buy one, wait for prices to come down. Prices don’t go up every month or quarter, there’s dips too. Just a matter of how shallow/deep the dip is.

* the last time prices peaked was 2012/2013, and prices stagnated and dipped only up till 2016/17.

Reason for the dip to stall. Developers.
They’re competing for land banks to shore up their supply. So, it’s not just the “retail” market to form the demand-side of the equation.

bobojin wrote: ↑

Tue, 31 May 2022 8:34 am

I have a feeling that most agent companies list resale prices online (like propertyxx) by inflated 10-25% and pushing housing higher.

If you suspect that some companies lie about the resale prices, you can always check at the source - URA portal.

Most home owners will want to sell at a slightly higher than market price. There will also be a few owners who will want to sell at a very high price. Agents just list the property online as per the price owners want to sell. It can also be true that agents convince owners to sell at a higher price to ‘test’ the market if owners not in a rush.