WHAT HAPPENS NOW?

The viral videos seem to be stirring up concern among property owners, leading to noticeable market shifts. I’ve observed a growing number of people listing all kinds of properties for sale. Buyers who invested in 2022-2024 are now trying to offload their contracts with developers, while those who purchased pre-pandemic are recognizing that the price rally has stagnated. Many of them are looking to cash in their gains, often pricing their units slightly below market value to secure quicker sales–posing an even bigger problem for those who purchased at peak prices. Adding to this, older units previously rented out (particularly to POGOs) are also flooding the market as they remain vacant. Owners of these properties, after watching the videos, might be thinking: no rental income, no capital appreciation—time to sell.

In essence, the 34-month oversupply of developer inventory may only scratch the surface. This figure, combined with inventory from flippers and unoccupied condos, creates a substantial glut in the market.

What about the demand side?

Before these videos surfaced, there was relatively steady interest from both investors and end-users who were waiting for “good deals”. Now, many are adopting a wait-and-see approach, anticipating even steeper price drops as more listings emerge. For instance, just this past weekend, I showed a listing that was the lowest-priced in its category—40% cheaper than another unit I’m handling. Despite this, the potential buyer still asked if the owner would consider an additional 25% discount.

If more creators amplify this topic, the downward pressure on "done" prices could intensify. The danger lies in the spread of misleading claims, designed to attract clicks and shares. What starts as a sentiment about stagnating prices could quickly escalate into fears of a market crash. With all this inventory entering the market, the effects could snowball very quickly.

For now, however, the situation remains manageable.