Huttons 2023 2Q Residential Updates

Singapore Private Property Outlook for Q2 2023

As the year progresses, Singapore's property market continues to evolve, shaped by various factors influencing supply, demand, and economic conditions. Here's a glimpse into what the second quarter of 2023 holds for the real estate landscape.

New Launches and Price Trends: With an array of new launches slated for 2Q 2023, developers are gearing up for an active period. Projections indicate that around 8,000 units could be sold in this period. However, as the demand-supply equation fluctuates, prices are expected to inch up by approximately 5% during the same timeframe. This price uptick is influenced by mounting construction costs and prevailing interest rates.

Stabilization of Resale Prices: The completion of non-landed homes in 2Q 2023 is set to contribute to the stabilization of resale prices. As these units hit the market, the supply dynamics will likely ease pressure on pricing, leading to a forecasted stabilization of resale prices at around 8% for the entire year.

Impact of Interest Rates: The current economic climate, marked by higher interest rates, introduces a unique dynamic to the property market. As rates rise, the affordability of financing impacts both demand and transaction volume. It's anticipated that the higher interest rates could act as a cap on the resale transaction volume, leading to an estimated 11,000 units changing hands in 2023.


Huttons 2023 2Q Residential Updates

Huttons 2023 2Q Residential Updates

Huttons 2023 2Q Residential UpdatesHuttons 2023 2Q Residential Updates

Huttons 2023 2Q Residential Updates

Your Property Journey: Whether you're considering a purchase, sale, or investment, navigating the intricacies of the property market requires insightful guidance. Our expert team is here to provide you with tailored advice, strategies, and solutions that align with your unique goals. As the property landscape continues to shift, make informed decisions with our assistance.

Act Now: Reach out to us today to discuss your property plans and aspirations. Our team is committed to empowering you with the knowledge and expertise needed to navigate the evolving real estate landscape successfully. Your property journey starts with us – contact us now for a personalized consultation.

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