Why Many People Are Caught in a Price Trap and Never Enter the Property Market?

Have you ever heard someone say, “I’ll wait for prices to drop before I buy a property”? Or perhaps, “Property is too expensive now, maybe next year.” If these lines sound familiar, you’re not alone. In fact, these are some of the most common thoughts that keep many people stuck in what I call the “Price Trap.”

Let’s unpack why this happens—and more importantly, how to avoid falling into it.

1. Waiting for the "Perfect" Price That Never Comes

Many potential buyers delay their entry into the property market because they believe prices are too high now and will eventually come down. While this sounds logical on the surface, the reality is that property prices in Singapore have generally shown an upward trend over time, even with short-term fluctuations.

Waiting for a big correction often results in watching the market move further and further out of reach. By the time prices stabilize or dip slightly, the entry price has already moved past your initial budget—and you’re left chasing a new “wait and see” moment again.

2. Mismatched Expectations vs. Budget

Another common trap? Buyers setting their sights on dream properties that don’t match their current financial capabilities.

Instead of entering the market with what they can afford and growing from there, many choose to wait until they can “afford better.” Unfortunately, the market doesn’t wait. Prices rise, loan curbs tighten, and suddenly, what was affordable a year ago is now out of reach.

It’s more strategic to enter the market with a right-sized home and work your way up through proper asset progression than to wait for your dream home to magically fit your budget.

3. Overestimating the Impact of Market Timing

Some buyers become obsessed with timing the market—trying to buy at the absolute bottom and sell at the peak. But no one has a crystal ball, not even seasoned investors. In trying to outsmart the market, they end up sitting on the sidelines for years.

The truth is, time in the market beats timing the market. By entering earlier, you allow your property more time to appreciate and build equity, especially in a land-scarce country like Singapore.

4. Fear of Commitment and "What Ifs"

Buying a property is one of the biggest financial commitments you’ll make. It’s no surprise that many people are held back by fear—fear of making the wrong choice, fear of taking on a large loan, or fear of future market downturns.

While these concerns are valid, paralysis by analysis can be more costly than taking action. With proper due diligence, a sound financial plan, and the right guidance, the risks can be managed. The opportunity cost of waiting often outweighs the fear of acting.

5. Not Seeking Proper Advice Early

Sometimes, people simply don’t know what their options are. They assume they can’t afford a property based on headlines or hearsay, without getting a proper assessment of their finances and loan eligibility. Others may not be aware of government schemes or alternative entry points like ECs, BTOs, or even co-purchasing strategies.

With the right advisor and tools, you may find that you’re a lot closer to owning a property than you think.

Final Thoughts

The “Price Trap” is real—and it has kept many on the sidelines while others built wealth through property ownership.

The key is to start with what you can afford today, rather than chase what you hope will be affordable tomorrow. Entering the market early, even with a humble first step, can pave the way to greater opportunities down the road.

If you're unsure about your options or where to begin, speak to someone who understands your needs and can guide you with clarity and strategy. Sometimes, the first step is simply a conversation.