Part of the commentary series, I would love to try something different as I would be summarising property news from 3 different sources in simple and easy to read point form for easy references
- In Q1 2023, Singapore's prime home prices recorded a 5.5% YoY growth, the highest rate in over a decade, according to a report by Knight Frank.
- JLL predicts that new private home sales in Singapore may reach 13,000 to 15,000 units in 2023, up from 12,908 in 2021, despite the government's cooling measures.
- Property prices in Singapore are expected to rise by 7% in 2023, according to Savills, despite the government's efforts to curb price growth.
- Prices of landed homes in Singapore have increased by over 20% YoY in Q1 2023, driven by demand from wealthy buyers and limited supply.
- PropNex is expanding its real estate agency network with the acquisition of luxury residential brokerage List Sotheby's International Realty Singapore.
- Property investment firm IREIT Global is acquiring the CSG Building in Germany for €78.9 million (S$122.7 million), marking its entry into the Frankfurt market.
- URA has launched two private residential sites for sale by public tender under the Confirmed List of the 1H 2023 Government Land Sales Programme, with a total of 735 units.
- The demand for BTO flats in Singapore continues to outstrip supply, with over 25,000 applicants for 3,853 units in the latest sales exercise.
- The asking price for a Good Class Bungalow (GCB) at Ewart Park has been lowered to S$75 million, after being put up for sale in 2019 for S$84 million.