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Have The Property Prices Hit The Peak In 2024?
Recently I noticed something interesting when buyers came to view my listings
I had the feeling that they love my unit but seems to be afraid to commit.
Maybe it might be the price.
As a buyer, should you be concerned with today’s property prices?
To explain our current situation, let me use a pyramid diagram.

What you see right now is actually the buyer’s pyramid and there are 4 different stages.
And every stage indicates an upward price movement.
Stage 1: Developer buys the land from Government.
Stage 2: Buyer buys from the developer.
Stage 3: Buyer buys from first owner.
Stage 4: Buyer buys during when property market is moving upwards.
The most critical stage is stage 4 where property price gets higher and higher.
To understand this further, I studied the price movement of a condo in Ang Mo Kio (The Panorama)

The Panorama Condo historical price movement (3 Bedroom)
2014: Starting price is $1,200,000
2017 (TOP): Transaction at $1,380,000
Stage 4 (upward trend)
2021 (Feb): Transactions at $1,500,000
2021 (Dec): Transactions at $1,670,000
2023 (August): Transactions at $1,915,000
Question: Are we still at the start of the trend or end of the trend (In stage 4)
To understand this further, I did a comparison between the current and previous (2013) uptrend cycle of an older condo.
And analysed the growth rate (Percentage) difference.
And here is my analysis (Watch video)
So as a buyer, what should you do?
There is no right or wrong answers here.
At the end, it really depends on your needs and objectives when buying a property.
But do take note of this… “As prices move up higher, your risk gets higher as well. Eventually your profits will get slimmer when you sell.”