Chart of the Day: New home sales to fall between 7,000-8,000 in 2020

Prices are expected to stabilise with a 0%-1% growth.

This chart from CBRE shows that the demand and prices for private residential homes will likely remain stable despite the ongoing COVID-19 outbreak, with the number of new sales projected to fall between 7,000 to 8,000.

Meanwhile, resale volume is expected to fall within the range of 6,000 to 7,000 units.

Even though market sentiments will likely take a hit, especially with the projected lack of Chinese buyers, prices are expected to stabilise and achieve between 0% to 1% growth in 2020. This is on the back of high land costs and lack of supply.

“In addition, most of the projects with an Additional Buyer Stamp Duty (ABSD) deadline in 2020 either have their units 100% sold or close to fully sold. Thus, the pressure to reduce prices is not significant,” the report further noted.

Projects from the Core Central Region (CCR) make up close to 40% of units available to launch in the year.

Meanwhile, Chinese customers are unlikely to feature in the short term given the current outbreak. The Chinese accounted for 19.3% of new home purchases in the CCR in 2019, excluding Singaporeans, according to CBRE.

Also read: Luxury homes flourish amidst renewed vigour from ultra-rich foreign buyers

However, they are expected to return in the mid to long term, attracted by Singapore’s stability. The continued low interest rates are also likely to help fuel and sustain the underlying demand from both local and foreign investors, the report added.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia