Market Reports

Singapore’s Real Estate Market: Insights from 2024 and Outlook for 2025

A Year of Peaks and Valleys for Singapore’s Private Property Market The private property market in 2024 experienced significant fluctuations, akin to a roller coaster ride. Developers launched a total of 22 private residential projects and 2 executive condominium (EC) projects throughout the year. This marked a slight decrease from 2023, which saw 26 private residential projects and 1 EC...

November 2024 brings 6 new launches with one almost sold out, here’s what to consider next

The Singapore real estate market in November 2024 was a bustling scene with six new condo launches collectively offering more than 3,500 homes. On launch weekend alone, over 2,300 units found eager buyers, marking an impressive 66% sell-through rate. However, the spotlight was on one standout project that nearly sold out entirely, leaving buyers scrambling for alternatives. In this article, we’ll...

Navigating the Singapore Real Estate Landscape: 2023 Review and 2024 Outlook

2023 Unveils Singapore's Bold Move: The 60% ABSD Tax In a strategic move to regulate speculative capital inflow into the real estate sector, the Singapore government unveiled a bold initiative on April 27, 2023. This initiative took the form of a substantial 60% Additional Buyer's Stamp Duty (ABSD) tax on residential properties purchased by foreigners, establishing one of the highest non-resident tax...

Greater Southern Waterfront: Investing in Singapore’s Next Frontier

The Greater Southern Waterfront (GSW) is a new and exciting development in Singapore that offers a wide range of opportunities for both residents and investors. Spanning over 30 kilometers of prime waterfront land, the GSW is set to transform the southern part of the island into a vibrant and diverse destination for living, working, and leisure. The GSW is part of the government's plans to create a...

A Look Back at the Singapore Property Market in 2022 and What to Expect for 2023

The property market in 2022 saw a rise in prices due to a low number of unsold units and high demand. Private property prices increased by 8.6% for the year, with muted growth of 0.4% in 4Q 2022 as there were no major non-landed launches. DEVELOPER SALES The injection of new supply in 2022 was the lowest ever, with only 4,528 units launched for sale, less than half of the previous year's 10,496...

Bulk purchases of Singapore luxury properties by individual foreigners on the rise

Bulk purchases of residential private properties in Singapore are on the rise. While most deals remain discreet, some are making the news in recent months. Earlier in June 2022, a Chinese national is said to have bought 20 units at CanningHill Piers, a condominium along the Singapore River, for more than S$85 million.. The purchaser, who is from the Chinese province of Fujian, is also rumoured to be...

Residential property rentals anticipated to stay high this year following uptick in June

Singapore private condominium and pubic housing (HDB) rental costs increased by 2.1% and 2.3%, respectively, from the prior month in June 2022, continuing their increasing trend. The most recent flash numbers from SRX Property and 99.co, released on 14 July, show that condo rentals have increased for 18 straight months while HDB rents have increased for 24 consecutive months. The rental rates for...

List of brand new homes ready for occupation in 2022

Looking for a property directly from the developer for your own stay or immediate rental returns? Below is a list of new launches in Core Central Region (CCR), Rest of Central Region (RCR) and the Outside Central Region (OCR) that has completed or are scheduled to complete in year 2022. Core Central Region (CCR) The Hyde The Hyde is perfectly situated on Balmoral Road, in front of Goodwood...

URA considering proposals including a heritage district for the future Paya Lebar Air Base site

When the Paya Lebar Air Base is relocated in the 2030s, the current site might be turned into a heritage district, with existing infrastructure including the control tower, hangars, and old passenger terminal buildings preserved. The Singapore Institute of Architects (SIA) and the Singapore Institute of Planners (SIP) were hired by the Urban Redevelopment Authority (URA) to come up with suggestions for...

Impact of higher property tax in Singapore

Singapore property tax is due to increase in 2023 and 2024. How will it impact the residential market? On 18 February 2022, Singapore Finance Minister Lawrence Wong said in his 2022 budget speech that property taxes on non-owner-occupied homes, including investment properties, will be raised to 12 to 36 percent over the next two years from the current rates of 10 to 20 percent. Owner-occupied...

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