Presenting our array of insightful real estate reports by our PropNex Research team, comprising detailed analysis of various market segments. Be empowered with the latest property trends to make well informed investment decisions!
Developers’ sales fell sharply in August after achieving a near 2-year high in July. Sales were down by 72% from the previous month to 394 units (ex. EC); while sales were down by 10% year-on-year from August 2022. Sales in August 2023 were led by the Outside of Central Region (OCR) where 192 units were sold, accounting for nearly half of total developers’ sales in the month. Check out the latest report for insights on last month's developer's sales!
New private home sales in Singapore surged fivefold in July 2023, reaching a near two-year high. The 1,412 units sold in July was a significant jump from the 278 units sold in June, and was up by 69% year-on-year. This surge in sales was driven by four new project launches in July, which accounted for over half of the total sales. The Rest of Central Region (RCR) was the leading sales region, with 836 units sold, accounting for close to 60% of total developers' sales in the month. Check out the latest report for insights on last month's developer's sales - read today!
Developers’ sales slumped to a 6-month low after a brief recovery in May, falling by 73.2% from the previous month to 278 units (ex. EC); sales were down by 43% year-on-year from June 2022. Sales in June 2023 were led by the Rest of Central Region (RCR) where 147 units were sold, accounting to close to 53% of total developers’ sales in the month Don’t miss out on this insightful update – read today!
Commercial sales recovered in Q2 2023 following a muted first quarter, where the implementation of higher top marginal rates for buyer’s stamp duty on commercial properties possibly put a drag on sales of commercial properties. The pick-up in activity in Q2 could be partly attributed to shifting interest from residential properties to commercial properties after the tightening of the ABSD rates in April 2023 to stem investment demand for homes. Commercial space leasing also remained resilient in both industrial and office sectors despite challenges in the economy and weaker external demand. Read the report to find out how each segment has performed during Q2 2023 and PropNex's forecast for the second half of 2023.
Commercial shophouse sales picked up in Q2 2023, with 43 transactions valued at $415 million. The increase in sales was driven by renewed interest from foreigners and investors, who are looking for alternatives to residential properties due to the higher ABSD tax rates. Rentals inched upwards in Q2 2023, with more than 900 contracts worth $9.2 million signed. The rental market is expected to remain stable in the near term, as tight occupancies support rental growth. Shophouse prices are poised to remain resilient in H2 2023, but recent changes to the RPA could make it more difficult for foreigners to acquire commercial and residential land and properties. Read this report for more insights today!
The residential property market in Singapore showed signs of moderation in Q2 2023, with prices moderating across all segments. This is due to a number of factors, including three rounds of cooling measures, the high interest rate environment, and price resistance from buyers. The moderation in the market is a positive development, as it suggests that prices are becoming more sustainable. This could make it a more attractive time for buyers to enter the market. Don’t miss out on this insightful update – read today!
PropNex releases its Home Buyers’ Sentiment Survey Report 2023 - found that most home buyers in Singapore are not planning to defer their property purchase this year, despite the new cooling measures and market uncertainties. The majority of respondents do not expect overall home prices to fall in 2023, and they remain price conscious with a sweet spot of $1 million to $1.5 million. District 15 emerged as the most preferred location, and ideal unit size favoured by respondents ranges from 800 sq ft to 1,200 sq ft. Most respondents value eco-friendly features at home, but are unwilling to pay much price premium for them. View insights from our report today!
The sales momentum of good class bungalows (GCBs) appears to have fizzled out in the first half of 2023, following a relatively subdued year of sales in 2022. This is in stark contrast to 2021, where lower interest rates, a pent-up demand for housing, and a desire for larger homes helped to drive the landed residential property market. Read on to find out how the GCB and prestige landed market performed in the first half of 2023 in this latest PropNex research report.
Sales momentum in the commercial market slowed significantly in the first half of 2023 amidst concerns of a global economic downturn and as interest rates remained elevated. Some bright spots persist in the market, in particular the commercial leasing market remains buoyant owing to robust occupier demand and tight occupancies. However, economic headwinds dampen outlook for the market due to weakening business confidence and global demand. Find out how the commercial property market performed in the first half of 2023 in this latest PropNex research report.
MONTHLY REPORT (AUG 2023)
MONTHLY REPORT (JULY 2023)
MONTHLY REPORT (JUNE 2023)
