Constrained supply and robust demand could continue to prop up private resale prices: OTT

EdgeProp Singapore

December 8, 2021

SINGAPORE (EDGEPROP) - According to a market outlook report by OrangeTee & Tie (OTT), the private residential resale market will likely experience constrained supply, while at the same time, robust demand for resale units is likely to continue to prop up prices.

“The unsold private housing inventory has dipped to an almost four-year low. The number of new project launches is expected to slide in 2022 as the land supply from the Government Land Sales (GLS) Programme was moderated over the past two years to keep pace with the uncertain economic outlook,” says Christine Sun, senior vice-president of research & analytics at OrangeTee & Tie.

She expects private resale home prices may climb by 6%–9% in 2022, following an increase of about 6%–7% this year.

The private new home sales market could also see about 30 new launch ready projects in 2022, a fall from the 50 projects that were launched this year. Notable projects are the redeveloped AXA Tower which is being turned into a new mixed-use development, the redevelopment of the former Maxwell House, and the Marina View white site by IOI Properties Group.

Read more at: https://www.edgeprop.sg/property-new...ale-prices-ott