Property agents tap buyers' FOMO, claim price hikes at slew of condo, EC projects

REAL estate salespersons in Singapore have been riding on Pasir Ris 8's wave this week to advertise increased prices of units at multiple private residential projects, mostly situated in the suburbs and city fringe.

In social media posts and WhatsApp messages seen by The Business Times (BT), agents are urging buyers to snap up units before developers move on their apparent plans to raise prices by about 1 to 5 per cent.

But some industry watchers have advised restraint, warning that any resultant "fear of missing out" (FOMO) among purchasers could easily create froth in the market and potentially even trigger the need for fresh cooling measures.