Market Watch

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Residential Market Watch Q1 2022 : PRICES STAYED FIRM ON LOW SUPPLY

Residential Market Watch Q1 2022 : PRICES STAYED FIRM ON LOW SUPPLY

Home prices resilient despite lower sales The residential market had a slow start in 2022Q1 with minimum new project launches, the lowest new sales volume and the smallest rise in prices since 2020Q2. Only 613 new homes were launched and 1,825 new homes were sold, much lower than the 2,275 units launched and 3,018 units sold in 2021Q4. The price index edged up by only 0.7% q-o-q, compared to a 5% hike in 2021Q4. Besides the lack of new launches, home buyers were also checked by the introduction of new cooling measures in December 2021. A closer analysis of the price index revea...

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Sotheby’s International Realty's Luxury Outlook Report 2022: Where Are Luxury Buyers Relocating In 2022?

Sotheby’s International Realty's Luxury Outlook Report 2022: Where Are Luxury Buyers Relocating In 2022?

Global trends are prompting wealthy buyers across the world to make moves abroad. According to Henley & Partners, a global citizenship and residence advisory firm, when it comes to relocation trends, “all the key metrics of the past are in flux. Corporate tax arbitrage is coming under fire, and a proposed global flat tax will change the pecking order of advantageous jurisdictions for international companies. Then there is remote working, with at least 40% of the global workforce now ‘location independent.’ ” Europe—specifically areas like Portugal, Italy, and France—has seen rising in...

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Sotheby’s International Realty's Luxury Outlook Report 2022: Luxury Buyers Keep Cities Thriving Despite Pandemic

Sotheby’s International Realty's Luxury Outlook Report 2022: Luxury Buyers Keep Cities Thriving Despite Pandemic

For hundreds—or sometimes thousands—of years, cities around the globe have defied predictions of their death, including alarms set off during the start of the Covid-19 pandemic. In fact, many global cities began to rebound as early as the summer of 2020. Luxury-home buyers returned to expand their stake in cities from London to Madrid, from São Paulo to San Francisco, and from Hong Kong to Tokyo. Real estate agents anticipate sales and prices to continue to rise in 2022, as international buyers return. “The real estate market was one of the sectors that recovered the fastest from the...

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Commercial Market Watch H2 2021: Brighter Outlook Ahead For Office Market

Commercial Market Watch H2 2021: Brighter Outlook Ahead For Office Market

OFFICE MARKET MOVING OUT OF THE SHADOWS Singapore’s economic expansion in 2021 beats forecast The Singapore economy grew by 7.6% year-on-year (y-o-y) in 2021, higher than earlier estimates of 7.2%.  According to the Ministry of Trade and Industry, GDP growth was mainly driven by the manufacturing, finance and insurance, and wholesale trade sectors.  Through the year, key office occupiers such as Information and Communications grew by 12.2%, Finance and Insurance grew by 7.4% while Professional Services grew by 4.4%. Indeed, given the continued global economic reco...

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Alert on Soaring Home Prices

Alert on Soaring Home Prices

Residential Market Watch Q4 2021 Residential market kept up buoyant pace The rise of home prices picked up speed in Q4 2021 to register 5% q-o-q after a 1.1% gain in Q3 2021. This is also the highest quarterly growth since Q2 2010. in total, home prices surged by 10.6% in 2021, the highest  y-o-y growth since Q1 2011. The strong surge in home prices was supported by  the healthy sale of 7,925 homes from both new projects and resale market in Q4 2021. This brings the whole year sales volume to 33,557 units, the highest since 2012. This buoyant prices a...

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SINGAPORE LUXURY HOMES ACED THE PANDEMIC TEST

SINGAPORE LUXURY HOMES ACED THE PANDEMIC TEST

SINGAPORE LUXURY HOMES – H2 2021 SURGE IN LUXURY SALES VOLUME AND PRICES In 2021, at least 665 luxury residential properties were sold, according to caveat data compiled by URA. This is about a 120% increase over the sales volume in 2020.   The surge in sales volume in this tier is remarkable. Stoked by a booming stock market, low interest rates, and a pandemic-era’s amplified focus on home life, prices for luxury homes have also risen significantly across the housing types. A total of 34 bungalows in the GCB areas and 14 bungalows at Sentosa Cove were sold in H2 2...

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The Biggest Deals In 2021

The Biggest Deals In 2021

2021 has been a year of uncertainty. From bleak economic outlooks to new variants of Covid-19 emerging throughout the world, it has changed the market outlook significantly. Despite this, the private property market has remained resilient in Singapore. With higher vaccination rollouts, coupled with the lower interest rates buyers pay, there has been a notable increase in number of property transactions in 2021.   Good Class Bungalow Demand for Good Class Bungalows (GCB) turned out to be robust in 2021, despite the ongoing uncertainty in the market. Covid-19, has ince...

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Blue Skies for Residential Market

Blue Skies for Residential Market

Residential Market Watch Q3 2021 Sales volume and prices continued to rise The pace of private residential sales continued unabated despite the spike in Covid-19 infections from August onwards. Singapore is trying to live with COVID-19 and containment measures were eased as part of a phased reopening since the national vaccination rate hit 80%. Advanced estimates showed that the Singapore economy grew by 6.5% year-on-year, much slower than the 15.2% growth in Q2 2021. Nevertheless, the Monetary Authority of Singapore kept the forecast for the year at 6-7% on the basis that eco...

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Shophouse Market Turns Vibrant

Shophouse Market Turns Vibrant

A pair of adjoining three-storey conservation commercial shophouses at 44 & 46 Club Street. Sold by List Sotheby’s International Realty, Singapore for $25.5 mil in July 2021 The first sign of vibrancy in the shophouse market was noted when 57 deals were closed in Q4 2020, up from the average of 30 deals in the previous three quarters. The sales momentum continued in 2021 bringing the total deals in the first eight months of the year to 166. At this rate, 2021 is on track to outperform the pre-pandemic high of 170 deals in 2018. Depending on the size of deals, there is a possi...

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Housing: A Safe Haven in Pandemic Times

Housing: A Safe Haven in Pandemic Times

Residential Market Watch Q2 2021 Homebuyers undaunted by spike in infections Demand for private homes stayed on course in the midst of rising infections as it rode on the wave of the economic recovery in Q2 2021. Advanced estimates showed that the Singapore economy grew by 14.3% year-on-year, an improvement from the 1.3% growth in the previous quarter. While this strong growth was due to the low base in Q2 2020, it was premised on an expansion in the manufacturing sector and the information & communications, finance & insurance and professional services sectors col...

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