- Singapore’s property market has been gradually cooling off with weakness starting to emerge in the form of lacklustre land bids, delayed new launches and sliding transaction volumes.
Residential market in a tug of war.
- Prices, on the other hand, have remained largely resilient on strong household balance sheet and growing household income. We expect this trend to continue for the rest of the year, with some recovery in buying sentiment anticipated in early 2025 on potential rate cuts and stronger economic recovery.
Sales volume likely to remain tepid...
- - Read this at SGinvestors.io -
- Key reasons behind low transaction volumes include a lack of major new launches and postponement of some of the planned launches amid selective buying demand and growing price resistance.
- - Read this at SGinvestors.io -
- Resale transactions (1Q) too were down 5% q-o-q at 2,689 units and are expected to see flattish growth for the full year.
… with prices continuing to moderate.
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-06-21
