Many of my real estate mates are telling me that if buyers bought off-the-plan apartments settling now have lost between 10-20% of values. Bank valuations are coming in lower than purchase price and resales in many pockets are difficult. Many are in the red flagged danger zones, not that buyers know as it’s not printed in the marketing brochures. Even in suburbs, it’s not spared.
However, all these are already predicted to happen back in 2010. I even posted many news back in those days. But gullible overseas (and some local) investors buy with emotions and hearsay, with limited local knowledge and independent resources. Until people lose money and make mistakes, they’ll never appreciate good advice. Nothing is new here. It’s so easy to manipulate human emotions.