Buyers versus Sellers – Who will blink first?

By Getty Goh

People who have read my articles or spoken to me before may go away with the thinking that I am a perennial pessimist. In the last few months, I have been telling my friends and potential clients to stay away from the property market.

Some reasons behind my views are: (1) Private properties are very expensive right now and good deals are not as easy to find as compared to several quarters ago. (2) Government intervention measures put in place have increased the opportunity and investment cost of owning private properties and they are not as worthwhile as before. (3) Property prices will eventually turn and those who bought at peak prices would be caught with a loss-sustaining asset when property market sentiments cool.

Interestingly, Singapore private property prices have been continuously on the rise and market observers have come up with many explanations on why this …