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January 2024 Newsletter

Highlights of the Month:

- Market Trends: November saw a significant rise in new private home sales, mainly due to the launch of three major projects, resulting in a 286.2% increase from October and 201.5% year-on-year, with 784 units sold excluding executive condominiums.

- Condo Resale and Rent Trends: Condo resale prices continued to rise modestly, while resale volumes remained subdued. Condo rents saw a notable decline of 1.4% month-on-month, the largest drop since May 2020, influenced by increased supply and reduced demand.

- Rental Policy Change: In contrast, October saw a rebound in HDB resale prices and volumes, but HDB rental prices fell for the first time since October 2021, and shophouse transactions declined by 21.3% quarter-over-quarter, with stable projections for industrial property rentals next year.

February 2024 Newsletter

Highlights of the Month:

- Private Homes: Private home prices in Singapore increased by 2.8% in Q4 2023, marking a 6.8% annual hike, but at a slower pace than previous years, due to factors like higher interest rates, cooling measures, and reduced demand. Rents, on the other hand, declined by 2.1% in Q4.

- Rent Trends: The market showed signs of balancing out, with a higher number of completed private units in 2023, leading to a drop in vacancy rates. The primary market saw fewer new home launches, resulting in a 43.9% decrease in sales volumes in Q4 compared to the previous quarter.

- Market Outlook: In the upcoming year, 11,793 private homes will be completed, possibly stabilising prices. Million-dollar HDB resales reached a historic high, while the shophouse market faced a Q4 slowdown with lower sales and values.

November 2023 Newsletter

Highlights of the Month:

- Market Trends: Singapore's property market experienced the lowest new private home sales since December 2022, alongside a notable decline in both HDB prices and rental volumes for condos in September 2023.

- Pricing Resilience and Demand: Despite a downturn in sales, private home prices remained resilient, while the demand for Executive Condos continued to be robust.

- Rental Sector and Prime Office Space: The rental market showed a mixed performance, with HDB rents increasing despite a fall in rental volumes, whereas prime office rents in Q3 reflected a weakening trend with a mixed outlook ahead.

December 2023 Newsletter

Highlights of the Month:

- Market Trends: October's new home sales reached a record low since 2008, with EC prices up by 30% in five years, while condo resale activity increased slightly amid slower price growth.

- Private Rental: Private residential rental prices and transactions have been on a downward trend for three months in a row.

- HDB and Commercial: In contrast, October saw a rebound in HDB resale prices and volumes, but HDB rental prices fell for the first time since October 2021, and shophouse transactions declined by 21.3% quarter-over-quarter.

September 2023 Newsletter

Highlights of the Month:
- Private home sales soared in July due to the launch of four key projects.
- Introducing New Classification of HDB Properties, Prime, Plus and Standard.

October 2023 Newsletter

Highlights of the Month:
- New private home sales in August plummeted by 72.1%, attributed to the Hungry Ghost month and market uncertainties.
- Resale and rental markets showed mixed trends.

July 2023 Newsletter

Highlights of the Month:
- New private home sales in Singapore increased by 17% in May 2023.
- New home sales expected to decrease in June due to the lack of project launches and ongoing school holidays.

August 2023 Newsletter

Highlights of the Month:
- The three-year surge in private home prices halts, declining by 0.2 percent in Q2.
- Foreigners need approval to purchase ‘Commercial & Residential’ sites.

May 2023 Newsletter

Highlights of the Month:
- New home sales rose for the third conservative month in March 2023.
- New property cooling measures implemented.Singaporeans who purchase 2nd residential property to pay 20% ABSD
- 99:1 property scheme revealed.

June 2023 Newsletter

Highlights of the Month:
- Introduction of the HDB Flat Eligibility (HFE) scheme, streamlining the process of buying HDB flats from May 9, 2023.
- Spotlight on overseas developments, including properties in Vietnam.

March 2023 Newsletter

Highlights of the Month:
- Private residential unit sales bounce back in January, but still down 42.8% YoY. Only 550 new private homes, including Executive Condominium (EC) were sold.
- Data showed that an estimated 519 units were resold in January, a 22.6 per cent decrease from the 671 units resold the month before.

April 2023 Newsletter

Highlights of the Month:
- Despite the increase in Buyer's Stamp Duty (BSD) effective from February 15, demand for pricier residential properties remained unaffected.
- In February, a higher proportion of all non-landed new home sales were of pricier units, particularly in the prime district and city fringe.

January 2023 Newsletter

Highlights of the Month:
- New home sales in November were sluggish due to the absence of significant project launches, with developers introducing only 319 housing units.
- Resale condominium unit prices rose for the 28th consecutive month in November.

February 2023 Newsletter

Highlights of the Month:
- Property developer sales in 2022 decreased by 45.1% compared to 2021, with an estimated 7,153 private housing units sold in the primary market.
- Resale activity in December 2022 saw an estimated 661 units resold, marking a 14% decline from November 2022.

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