SELF-FULFILLING PROPHECY

I didn’t see this coming.

In my 1H2024 report, Connecting the Dots, I predicted that general property prices would remain flat over the next three years. But it seems a new trend has emerged. The term "condo oversupply" has quickly become a buzzword among content creators.

This wave of attention started with a report from Leechiu Property Consultants, highlighting developers' 34 months' worth of unsold inventory. The report gained traction after Mr. Leechiu appeared in an interview with content creator John Dang. Since then, other creators have jumped on the bandwagon, flooding social media with discussions about the condo oversupply.

Unfortunately, most of these social media content add little to the narrative and, in some cases, spread misinformation—like claims that condo prices in a CBD have tripled in recent years, which is far from accurate.

So, how does this impact my earlier forecast (the article is pinned in my IG page)? Surprisingly, the videos seem to be stirring panic among property owners. Over the past week, I've seen a noticeable uptick in people looking to list their properties and clients asking for strategies to sell faster. Some of these properties were purchased just last year and are still under construction.

If this sentiment escalates, the predictions of a price crash could turn into a self-fulfilling prophecy.

I’ll continue monitoring the situation and keep you updated as events unfold.