What the market is telling you today

Recent New condo launch of the Emerald @ Katong (EOK) saw a successful uptake from the market where buyers rushed in and about 99% were sold in 2 days. WOW!

Prior to launch, agents and VVIP got an opportunity to choose and buy before the preview.

After that was done, EOK was left with about 50% remaining units.

On Saturday, due to limited units, Developer pushed up prices.

Although the average psf sold was about $2,600psf, some people bought at the lower end of $2,467 to $2,534psf, while others who had a later queue number bought at about $2,700psf, even at $2,900psf too.

History repeated itself

I remember years ago during the Pasir Ris 8 launch, a similar event happened.

The increase of PSF on a single day due to popularity and demand from the market. The project was wildly successful and everyone went gaga over it. It was the first integrated development in Pasir Ris! Everyone wanted a piece of it.

It was an opportunity to grow net worth and wealth that was not to be missed!

But if the prices are too high, should you walk away?

Why should you walk away?

Imagine you are one of the buyers and your queue number puts you behind. That means there are many people who get to choose a unit before you.

In the EOK case, about 3,629 cheques were collected, but there were only 846 units. Those who had a balloted queue number starting with 1000 has little to no chance. If you get the gist of what I am saying, the odds of selecting a good unit is low.

If you get ''lucky'', you may buy a unit at the high side ($2,900psf) too.

If you buy at $2,900psf, what happens when you sell the property later on?

Imagine you are one of the sellers who puts up the property for sales a few years down the road.

You list your property for sales at about $3,100 to $3,200 psf. Your competitors who are also selling their units probably list their prices lower. (because they bought it cheaper than you)

> Their units are at a higher floor, have better facing and selling cheaper.

Imagine you got a super agent who was able to achieve your ideal selling price at $3,200psf, and you managed to offload the unit successfully. (although this is unlikely :))

Your transaction will push up the selling prices of your neighbour's units higher. As a result, they thank you for a larger sales proceed. (because they bought it cheaper and sold it at your selling price) Effectively, you have helped the neighbours and you certainly deserve a pat on the back! Well done!

In most situations, your neighbour's unit will be sold first and you will be last.

Will you miss another new buying opportunity then?

When should buyers walk away from a new Launch?

If you do not have a good queue number, than you must consider looking at other ''value'' buys available.

There are some projects that are available and worth your moolah. (DM me if you missed EOK and want to buy something quick)

Sometimes its hard to walk away because you love the location very much and you tell yourself you do not mind paying a higher psf for the same product.

This is the moment where you need good property advice, because FOMO has already blinded your eyes. IMO, its smart to work with a agent who can help you navigate all these complexities. Choose JN Consulting and see the results for yourself. (DM me if you are serious to win in real estate)

Should you give up entirely if you didn't get a good queue number then?

As the saying goes, Winners never quit, quitters never win.         

If you got a lousy queue number, then you should search for something else to buy. There are pockets of opportunity you can tap on if you know how to.

The property buying rush is fueled by demand vs supply. No one will give up an opportunity to make money and grow their net worth. Hence, you will always face competitors who want to buy the same development. Having clarity of mind is important when you want to win in this game. (DM me for real estate guidance that will put you ahead of our competitors)

Pareto Principle 80/20 rule

Unfortunately, the pareto principle stays very true in our daily lives. People who take massive action belong to the 20% while the 80% read the news and watch the events unfold before their eyes. They are fully aware yet they will never take a step forward. This group of people tend to regret in their latter years.

And we let them be, because Winners will be winners and I believe you are one of the 20%.

Over the last weekend where people walked away from EOK, The Continuum sold 20 units. This is another example of how you can still win!

What is the outlook for 2025?

Interest rates are coming down further and that means many more buyers will go into the market. When demand increases, prices will ___ ? (fill in the blank)

Seeing the number of cheques collected for projects that were recently launched, it is evident that demand for city fringe projects will only continue to rise further!

My LinkedIn friends, why would you buy a similar product at a higher price next year?

Look for me today, to win!

At JN consulting, you are not merely another buyer. You are an important client because your success is my business. If my recommendations were poor and resulted in you having a tough time off loading the property years later, wouldn't that destroy my pipelines?

In my business, I also seek your referrals and the only way to build that is to add real value.

Therefore, even though I am very busy currently with all the market action, I still took time to write this article.

The Reason?

I hope you make a good choice in your property hunt and I really want to see you at the Winners table.

#JNConsulting

#Realestateconsulting

#winning

#Nofomo

#reason