Updates for the Week: 13-20th Mar

Updates for the Week: 13-20th Mar

  • Private home sales in Singapore declined by 10.5% in February 2023 compared to the previous month.
  • From 1 April 2023, the Singapore government will increase the income ceiling for public housing eligibility from S$14,000 to S$16,000.
  • Private home prices in Singapore continued to rise, increasing by 0.4% in Q4 2022, marking seven consecutive quarters of price growth.
  • Singapore introduced a new five-year plan to revamp the country's housing landscape by constructing more rental flats, improving public housing quality, and promoting sustainable living.
  • En bloc sales in Singapore saw a significant drop in 2022, with only six successful collective sales recorded compared to 27 in 2021.
  • Over 10 million sq ft of new office space is expected to enter Singapore's property market in the coming years.
  • Private non-landed home rents in Singapore decreased by 0.5% in February 2023.
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