reporter2
18-04-22, 10:51
Singapore property market sees "a broad-based recovery" in 1Q2022: CBRE
April 14, 2022
SINGAPORE (EDGEPROP) - According to a 1Q2022 report by CBRE, the Singapore property market has shown “a broad-based recovery”, with improvement in metrics recorded across most segments. CBRE’s report comes ahead of property market data for 1Q2022 expected to be released by URA at the end of the month.
According to CBRE, both sellers and buyers adopted a wait and see approach post-cooling measures, with only 1,716 new private homes (excluding Executive Condominiums - ECs) sold in 1Q2022, well below the five year average. “Private home price growth plateaued in 1Q2022 as cooling measures took effect,” the report explains.
Private residential property prices landed properties saw a marginal 0.4% increase q-o-q, compared with a 5.0% surge in the preceding quarter. Overall non-landed homes prices saw a 0.6% decline q-o-q, reversing from the 5.3% growth in 4Q 2021.
https://i.imgur.com/5M9DTpP.jpg
GLS sites Jalan Tembusu and Lentor Hills (Parcel A) saw subdued bidding as developers showed restraint post cooling measures. Dairy Farm Walk and Bukit Batok West Avenue 8 EC site performed better, as confidence returned in March. “Smaller collective sales also saw some success given the lower cost and development risk,” the report adds.
CBRE expects new home sales to reach between 9,000 to 10,000 units with prices rising by 3% in 2022.
Read more at: https://www.edgeprop.sg/property-news/singapore-property-market-sees-broad-based-recovery-1q2022-cbre
April 14, 2022
SINGAPORE (EDGEPROP) - According to a 1Q2022 report by CBRE, the Singapore property market has shown “a broad-based recovery”, with improvement in metrics recorded across most segments. CBRE’s report comes ahead of property market data for 1Q2022 expected to be released by URA at the end of the month.
According to CBRE, both sellers and buyers adopted a wait and see approach post-cooling measures, with only 1,716 new private homes (excluding Executive Condominiums - ECs) sold in 1Q2022, well below the five year average. “Private home price growth plateaued in 1Q2022 as cooling measures took effect,” the report explains.
Private residential property prices landed properties saw a marginal 0.4% increase q-o-q, compared with a 5.0% surge in the preceding quarter. Overall non-landed homes prices saw a 0.6% decline q-o-q, reversing from the 5.3% growth in 4Q 2021.
https://i.imgur.com/5M9DTpP.jpg
GLS sites Jalan Tembusu and Lentor Hills (Parcel A) saw subdued bidding as developers showed restraint post cooling measures. Dairy Farm Walk and Bukit Batok West Avenue 8 EC site performed better, as confidence returned in March. “Smaller collective sales also saw some success given the lower cost and development risk,” the report adds.
CBRE expects new home sales to reach between 9,000 to 10,000 units with prices rising by 3% in 2022.
Read more at: https://www.edgeprop.sg/property-news/singapore-property-market-sees-broad-based-recovery-1q2022-cbre