I'm willing to postpone my happiness (living in a condo) and bet that prices must come down.
Despite what agents say (they have an agenda), it's well known that property lags the stock market.
It's simply impossible to have the central regions crashing and yet have parkway area going up. Even the "resilient" HDB resale market is also slowing.
With more retrenchments, more political uncertainty around the region, more graduates jobless, let the agents and sellers dream on.
I agree with a comment posted at http://www.salary.sg/2008/property-m.../#comment-3153
"Basically there is no reason to buy at current prices because when you weigh the pros and cons, you will realise that there is zero chance of prices appreicating and 100% chance of prices falling. Fall by how much is the question? With the extent of the global crisis, STI having fallen by 60%, supply from DPS buyers, pullback of expats, I would say at least 20%, realistically 40%
In any case, why buy now when ther is no upside and lots of downside."
I'll continue to wait. But I'll also consider other projects.