As predicted earlier, the sentiments are turning rather bearish. One of the main indicators market is consolidating is that valuation is hard to justify now. When the gap between the asking price and the price buyers are willing to pay plus the valuation from the bank is difficult to justify, it is a real sign that the market is turning. For those property investor
who are looking into sub-sale market now you will find that bargain deals are hard to find now especially in this market.The other factor to put in perspective is the expectations from the seller is getting more and more ridiculous. When the selling price keep adjusting upwards then it is one of the sign that the market is out of sync with reality.
I won't say the market now is bearish but the indication is that it is pointing that way especially the financial institutions are tightening their belts.
Read below the article from The Edge: Demand for high end homes cool
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