Developers’ sales for 25 Sep – 1 Oct 2023 were 55 units
The CCR accounted for 27.3% while the RCR and OCR made up 32.7% and 40%
The respective top-selling projects in the CCR are Pullman Residences Newton, followed by Grand Duman in the RCR, and EC – North Gaia and Lentor Hills Residences in the OCR
The property market is shifting into a stable and sustainable mode after being in high octane drive over the past two years
Based on flash estimates, prices were resilient, edging up 0.5% in 3Q 2023 despite the economic headwinds
The cooling measures on 27 April 2023 had a greater impact on the Core Central Region (CCR) as the proportion of foreigners buying residential properties tends to be higher
Sales in the CCR plunged by around 30% in 3Q 2023 compared to the previous quarter while prices have also dropped by 2.6%
Developer sales could end the year between 6,500 and 7,500 units while prices of new homes are likely to increase up to 5% in 2023 on the back of imported inflation and resilient demand.