Insightful Property Reports

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!

Private New Homes Reports

Monthly Report (Feb 2024)

In February 2024, housing developers sold 149 new private homes (ex. ECs), down by 47% MOM from the 281 units shifted in the previous month, and lower by nearly 66% YOY from 433 units sold in February 2023. The decline in sales during the month can be attributed to the festive lull period as well as the lack of new project launches in February. Read more about how developer sales performed during the month in this latest report!

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Monthly Report (Jan 2024)

Developers’ sales jumped by about 108% month-on-month in January to 281 units (ex. executive condos) – from a low base of 135 units in the previous month. On a year-on-year basis, January’s new private home sales were down by 29% from 394 units in January 2023. New home sales in December were led by the Outside Central Region (OCR) where 144 new units were sold, representing nearly half of developers’ sales in the month. Read more about how developer sales performed during the month in this latest report!

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Monthly Report (Dec 2023)

Developers’ sales tumbled from November to December 2023 amidst a lack of new project launches and the year-end seasonal lull. New private home sales fell by about 83% month-on-month to 135 units (ex. EC) in December, from the high base of 784 units in the previous month. New home sales in December were led by the Rest of Central Region (OCR) where 66 new units were sold, representing nearly 49% of developers’ sales in the month. Read more about how developer sales performed during the month in this latest report!

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Quarterly Reports

COMMERCIAL REPORT (Q4 2023)

Commercial sales activity and prices moderated further in Q4 2023 due to the economic slowdown. Office prices fell by 0.8% QOQ while industrial values inched up by just 0.6% QOQ. Commercial rentals held up during the quarter due to resilient occupancies, with industrial rentals rising by 1.7% QOQ and office rentals inched up by 0.3% QOQ. Looking ahead, the commercial market is remain tepid going into the first half of 2024, activity may gradually pick up in the second half of 2024 along with the projected economic recovery and potential interest rate cuts. Read this report for more insights today!

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SHOPHOUSE REPORT (Q4 2023)

Commercial shophouse sales activity moderated further in Q4 2023, with just 15 transactions valued at $95 million, ending off the year on a quiet note. Shophouse Rentals picked up after slipping in the previous quarter, with median rentals rising to $6.36 psf per month in Q4. Looking ahead, the shophouse market is expected to pick up going into the second half of 2024 along with the projected economic recovery and potential interest rate cuts. Read this report for more insights today!

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Q4 2023 RESIDENTIAL REPORT

Residential property prices continued to climb in Q4 2023, with private home prices rising at a faster pace quarter-on-quarter – propped up by transactions at new launches. Meanwhile, the price growth momentum in the public housing resale market eased further during the quarter, amidst growing price resistance and cautious sentiment among buyers. Read this report for insights of how the private residential and HDB resale market performed in the last quarter of the year as well as PropNex’s forecast for 2024!

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Other Real Estate Reports

2H 2023 COMMERCIAL PROPERTY SNAPSHOT

In the second half of 2023, commercial property values continued to grow albeit at a slower pace due to weaker market sentiment, slower sales and economic challenges. The office and retail property market witnessed a moderation in rentals and prices as business sentiment and consumer demand wanes. Meanwhile the industrial property sector continues to hold up despite slower manufacturing activity. Read this report to know more about how the various commercial property sectors (office, retail and industrial) performed in the second half of the year!

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2H 2023 GCB AND PRESTIGE LANDED REPORT

In the second half of 2023, the landed residential property market witnessed a significant slowdown, as softer buying sentiment, tight availability of homes for sale, elevated interest rates, and mismatched price expectations weighed on transaction activity. The GCB market in 2023 has also substantially softened, achieving less than 20 deals worth more than $400 million in the year-to-date, compared to 2022, where 44 deals amounting $1.2 billion were achieved. Read this report for insights of how the GCB and Prestige landed market performed in the second half of the year as well as PropNex’s forecast for 2024!

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2024 RESIDENTIAL PROPERTY MARKET OUTLOOK

In 2023, the Singapore residential market has cooled down significantly since last year, amidst many uncertainties in the market. Much of that is expected is expected to persist going into 2024, at least in the first half of the new year. Geopolitical tensions, macroeconomic headwinds, and high interest rates will continue to temper housing demand for both the private residential and public housing market. Read on as PropNex conducts a thorough analysis on the Residential Property Market Outlook for the upcoming year 2024!

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