Myth or Fact | Will You Lose Money if You Buy at The Peak?

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Are you hesitant to enter the property market because you fear you'll lose money if you buy at the peak? Let's examine the data and see if we can debunk this myth.

Back in 2013, the property market experienced a peak due to speculative demand and the absence of cooling measures. But what happened to those who bought at that time? Did they all make losses? Actually, some of them made profits. It all comes down to knowing how to pick the right properties and understanding the emerging trends.

Take for example Park Central, which was bought in 2012. Those who held onto it until today made close to $200,000 in profit for bigger units and $100,000 for smaller units. On the other hand, those who bought at Suites @ Newton in 2011 and 2012 and sold this year made a loss. The conclusion? Knowing how to pick properties is more important than trying to time the market.

Don't just follow the crowd or take what others say at face value. Understand the shifting trends and fundamentals of the market. Make sure you have a good property plan in place. And most importantly, don't wait. More money is lost by not having a fundamental understanding of the market versus taking action.

So, is it a myth or fact that you'll lose money if you buy at the peak? The truth is, you'll never know for sure. But with good research and understanding, you can protect yourself from making costly mistakes.
Now, it's your turn to join the conversation. What are your thoughts on buying property at the peak? Leave your comments below and let's keep the discussion going.

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