Was i wrong to wait? I waited and prices went up instead!

🕒 The Myst: A Lesson in Waiting Too Long

When The Myst launched in 2023, buyers had mixed feelings. Some saw potential—near Cashew MRT, surrounded by greenery, and a Bukit Timah address without Bukit Timah prices. Others thought: “Too expensive now, I’ll wait. Maybe prices will cool.”

One of those was Jason, a 34-year-old upgrader who had just sold his BTO in Choa Chu Kang.

🚧 The Backstory

• In July 2023, The Myst launched at an average $2,050 PSF. Jason shortlisted a 3-bedroom unit priced at $1.9M.

• He liked the layout and location but hesitated. His friends told him, “Wait. Prices will drop. Don’t FOMO into it.”

• So, Jason walked away.

📉 The Waiting Game

• Fast forward 18 months. Other OCR and RCR launches started hitting $2,200–$2,300 PSF, with even Lentor projects pushing higher.

• While the resale market plateaued slightly, new launches like The Myst held steady. Unsold units didn’t get cheaper—they were actually priced higher with each release phase.

🧮 When Waiting Backfired

• By early 2025, the same 3-bedroom type Jason once eyed was relisted at $2.05M.

• His monthly repayment, based on higher bank rates and loan quantum, was now about $800 more per month than if he had bought at launch.

• Worse still, the good stacks and higher floors were already gone. What was left were lower floors with less desirable facing.

💡 Lessons from The Myst

1. Not every launch gets cheaper. Developers rarely slash prices on unsold units—they re-release in phases, sometimes at higher prices.

2. Opportunity cost hurts. Jason spent 18 months renting, paying $3,000/month. That’s over $50K gone, instead of building equity.

3. Good units don’t wait. Even if prices didn’t rise, the choice layouts and premium views are always snapped up first.

Jason’s story with The Myst isn’t unique. Many buyers think waiting is a “safe move,” but in Singapore’s property market, time often works against you.

• Prices creep up quietly, especially for well-located projects.

• Interest rates change, and even a small percentage increase can mean hundreds more per month.

• Most importantly, choice units vanish first—and you’re left with less desirable options even if you eventually buy.

In short, waiting doesn’t guarantee savings. It usually guarantees compromises.

💬 Final Thought

Buying property isn’t about timing the perfect dip—it’s about securing a good property at a price you can comfortably afford today, before the opportunity slips away.

If you’re serious about upgrading or investing, don’t let hesitation cost you the chance to secure the right home.

📌 Unsure What to Do Now?

👉 Thinking of upgrading or investing but unsure whether to go for a resale or new launch? Let’s chat. I’ll help you run the numbers, compare options, and work out a plan that fits your goals—without the hype.

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