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The Singaporean property market has long been a hotbed of competition, where oversubscribed condominium launches are a regular occurrence. Beyond practical considerations like location and pricing, a powerful psychological phenomenon often drives this frenzy: Fear of Missing Out (FOMO). Leveraging principles from behavioural economics, we can uncover why FOMO plays such a significant role in condo buying and how it fuels oversubscription.
Chuan Park and Emerald at Katong are two such developments that drew overwhelming interest, with both significantly oversubscribed. This article compares these two popular projects to explore what makes a condo launch so highly sought after.
This phenomenon was seen in the case of Chuan Park, which drew significant interest due to its strategic location near Lorong Chuan MRT station, competitive pricing at an average of S$2,579 per square foot, and the scarcity of new developments in the area for over a decade. Similarly, Emerald at Katong, located in highly sought-after District 15 with proximity to the upcoming Tanjong Katong MRT station, attracted 4.3 times the number of available units, further highlighting how such projects resonate with buyers.
Singapore, a modern metropolis known for its skyscrapers and high-tech living, also has its fair share of spooky tales and local legends. Some of these stories revolve around "haunted" properties—places believed to be occupied by restless spirits or home to unsettling energies. Whether you’re a believer in the supernatural or a sceptic, these stories often influence property perceptions and prices in surprising ways.
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