I am amazed by the number of property brochures I received in my letterbox these days. Every couple of days there will be a flood of hard copy brochures advertising about the different property launches. No, these are not the property agents telling unit owners how great they are at selling flats; the brochures are from property developers advertising their latest launches. Of course I am no property speculator; just a heartlander dwelling in a petite HDB flat. So why do I still receive so many brochures? I think it is turning quiet for these new property launches.
Guess the answer is that these developers are desperate now. The new Minister for National Development, Khaw Boon Wan had commented on his blog that he is worried about property prices and asked buyers to be aware of sudden changes in the property market. I think both the government (with a better overview of the whole market developments) and the property developers (with a sharp understanding of the local property trends) know that this phenomenal increase in property prices cannot last; what goes up must come down someday. Perhaps the day is near, and the higher the rise in price, the lower the fallen price target will be.