Scams have been on the rise, and we’re not just talking about scam phone calls or spam texts — even a harmless-looking social media post could be a total hoax.
Yes, if you see a property listing online priced far below market value, it should raise alarm bells. This is according to local property agent Axel Ang (@axellentproperty), who took to TikTok to warn Singaporeans about fake property listings on social media: “You’re not buying a house. You’re buying trouble.”
In particular, he was warned by a client about a five-room HDB unit in Yishun listed for under S$400,000 — a price that appeared too good to be true.
Speaking to 8days.sg, Axel, a Senior Associate Director at PropNex, said: “When I first came across the video, a few red flags stood out almost immediately. The most obvious was the pricing. It was positioned at a level that simply doesn’t exist in today’s Singapore property market.”
“These are fake accounts that are pretending to be property agents, and they mimic the same content with slight changes to trick you,” explained Axel in the TikTok video.“They are not selling houses, they are trying to get you to comment.”
Upon further investigation, Axel discovered that the “listings” were merely a front to lure users into registering their interest through a Telegram link, which would ultimately lead to their accounts being compromised.