CNA938 Rewind - When agents beat homebuyers to new condos: FOMO or fair play?
Property agents in Singapore have been buying a noticeable share of units at certain new private condo launches – in some cases up to 20% of available units before the projects open to the general public. Even though the practice does not violate any regulations, industry watchers are concerned this kind of “first dibs” buying may crowd out regular buyers, contribute to fear of missing out (FOMO) and potentially stimulate speculative activity. Andrea Heng and Hairianto Diman speak with Prof Sumit Agarwal, Professor of Finance, Economics and Real Estate, NUS Business School, to find out more.