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 sold a total of 718 new private homes (ex. EC) in March, representing a more than fourfold increase from the 153 units shifted in the previous month, and the highest monthly sales in four months. The launch of Lentor Mansion single-handedly boosted private new home sales in March 2024, accounting for more than half of the month’s sales. Read more about how developer sales performed during the month in this latest report!
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!
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!
Residential property prices continued to rise in Q1 2024, with private home prices rising at a faster pace quarter-on-quarter – propped up by transactions at new launches. Price growth momentum in the public housing resale market also picked up during the quarter, amidst a record number of million-dollar HDB flat transactions achieved in a quarter. Read this report for insights of how the private residential and HDB resale market performed in the first quarter of the year!
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!
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!
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!
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!
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!
Monthly Report (Mar 2024)
Monthly Report (Feb 2024)
Monthly Report (Jan 2024)
