singapore private residential market

The strong takeup in new condo launches boosted prices during the quarter.

Most non-local buyers were from Mainland, China.

Prices already rose at a faster pace in Q2, rising 3.5%.

This marks a faster pace of growth compared to Q1.

There were 5,844 units sold during the quarter.

However, it remains below the average supply of 9,000 units 10 years ago.

The market has already logged some 500 new home sales for May.

Several silver linings, however, will help alleviate the effects of these factors, an expert said.

The private resale volume hit 19,962 in 2021, the highest in 14 years.

New home sales from January to August reached 92.8% of last year’s volume. 

Prices only grew by a marginal 0.5% (q-o-q) amid heightened alert in Singapore.