Residential Property

Developers sold 891 new private homes in May, lower than the 1,268 sold in April.

Robust market demand has developers eager to replenish their supply.

RHB revised their forecast up from 0-3%. 

Condo rents increased by 7.3%, HDB rents by 7.9% year-on-year.

This is the first time HDB resale volumes fell under the 2,000 mark since May last year.

Billionaire Kwek Leng Beng said cooling measures might be introduced if residential property prices continue to rise.

Analysts expect future sales to be affected by more HBD upgraders, and fewer fresh property launches.

Excluding executive condos, 1,262 private homes were sold in April.

Rental volumes fall, rents  are on the rise, and more people are choosing to buy permanent homes.

Rents rose whilst more than 100 condo and HDB units were freed up in April.

The demand for condo resales will likely remain high in the coming months, analysts say.

Demand is expected to remain healthy thanks to HDB upgraders and delays in new housing projects.

Net profit after tax rose to $16.18m in Q1, 2021 from $8.22m a year earlier.

Sales of high-end HDB resale flats have soared to 90% of 2020 levels in the first four months of 2021.

The current surge is expected to slow down as Government aid tapers off.

A $4,200 per square foot for a penthouse at Midtown Modern has brought life back into the luxury market.