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Emotions In Singapore Property Market
As the real estate market in Singapore continues to get caught in stop-go situation, many players, buyers and sellers are in a fix with regards to their investments. Investors, and their moods, often find themselves on a topsy-turvy ride. But the reality is that emotion plays a central role in your investment decisions. If you let it take over, it can potentially bring on detrimental effects.
Depending on the bull-bear cycle of the real estate market, or the position you are in, many emotions can emerge. Here we have compiled a list of some common emotions that affect the investors and the corresponding side-effects these cause.
1. Optimistic - This positive mindset is usually an asset in a volatile property market. It helps investors stay resilient and keep their focus on new emerging opportunities. But over-optimistic often lead to over-confidence, which may subsequently lead the investors to make overly aggressive decisions and take more risk than what is logical. Impulse decision is the usual result of getting too optimistic.
2. Hopeful – This is represented by a perpetual belief that the property market is going to turn around for better. People who are hopeful probably cannot go too wrong. Historically market has always fought back and recovered in spectacular manner. While waiting in anticipation of better market condition, they should also check their portfolio regularly and be pro-active to dictate any early market movement.
3. Fearful – A deep sense of worry about the viability of the property market under the current adverse conditions. Investors should learn to check this feeling as once they are overcome by fear; they get panicky too easily and too readily. They get influenced and worried unnecessary with every turn of the market which in turn lead them to make irrational or hasty decisions.
4. Cautious – This is perhaps the much praised human virtue and it is always good to exercise caution whether the property market is on descent or ascent. But while it is important to be careful with your investment, don’t go the extreme to the extent that leads to inaction, missing out on new market opportunities in the end. Sitting on the fence would not grow your investment.
5. Regret – This is perhaps the most damaging aspect as far as emotion goes. It is worse than experiencing a real actual loss because you continue to haunt yourself for making a wrong investment decision. We would suggest instead you learn to dust off, lick your wound and move on.
For us, investors and non-investors alike, it is perfectly acceptable to have a wide range of feeling on things around us. But if you happen to be a property investor, then you better be aware of your feelings about your investments and try to contain these lest they affect you in a negative way. Remember real estate investment is always about making objective and rationale decision, ideally void of emotion.
Billy Chen
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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