Market Reports

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...

Sales of new private homes, resale properties up last year in 2021 despite record prices

Despite new price records, sales of new private residences and resale properties in Singapore increased last year, according to figures released by the Urban Redevelopment Authority on Friday (Jan 28). Developers sold 13,027 private residential units in total in 2021, compared to 9,982 units the previous year. In the secondary market, 19,962 resale properties were sold in 2018, compared to 10,729 in...

Eight exciting new launches to look out for in 2022 and beyond

After a strong 2021 where total transaction volumes for new launch private non-landed properties amounted to 12,574 for the whole year (a 34 per cent increase y-o-y), what are the next highly anticipated new launches for 2022? The Singapore property market had a robust 2021 with private residential transactions at 28,734 units (excluding ECs), a large 57 per cent increase from 2020, when a total 18,295...

Singapore property market in 2021 and trends to watch in 2022

A quick review of how did Singapore property market perform in 2021 and what's ahead in 2022 Singapore private and public housing markets saw a buoyant year in 2021, with prices reaching new peaks and annual sales hitting the highest level in several years. Private home prices jumped 10.6 per cent in 2021, quickening from a 2.2 per cent increase the year before, according to flash estimates from the...

Singapore announces new property cooling measures: Higher ABSD rates, tighter loan limits

The Government on Wednesday (Dec 15) announced a package of measures to cool the private residential and HDB resale markets. The measures include raising Additional Buyer’s Stamp Duty (ABSD) rates, tightening the Total Debt Servicing Ratio (TDSR) threshold and lowering the Loan-to-Value (LTV) limit for loans from the Housing and Development Board (HDB), said the Ministry of Finance, the Ministry of...

Singapore private home prices increase by 2.1% in fourth quarter

Private property prices in Singapore rose 2.1 per cent in the fourth quarter of 2020 from the previous quarter, according to flash estimates by the Urban Redevelopment Authority (URA) on Monday (Jan 4). This compares with a 0.8 per cent increase in the previous quarter, said URA. For the whole of 2020, private home prices rose by 2.2 per cent, compared with the 2.7 per cent increase in 2019. Ms...

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