2023-01-09-莱坊-Singapore_Residential_Market_Update_Q4_2022_2页_691kb

### Singapore Property Market Analysis - Key Insights

• Inventory Constraints: Transaction volumes (sales, new launches, secondary market) dropped significantly in Q4 2022 due to limited saleable inventory, particularly in non-landed private housing.

• 2023 Supply Outlook: There are expected to be 34 new projects launching around 12,000 units in 2023, which may alleviate supply shortages and offer more product variety.

• Economic Headwinds: Uncertainty surrounding global recession, rising interest rates, job layoffs in the technology sector, and increased consumption costs may lead to more conservative demand in 2023.

• Transaction Projections: Estimates for 2023 private residential transactions range between 21,000 to 25,000 units. Transaction volumes decreased significantly in Q4 2022.

• Price Projections: Non-landed private home prices in 2023 are expected to grow moderately by 5-7%, down from 8.4% in 2022.

• Regional Performance:

  • OCR (Outside Central Region/Rest of Central Region): OCR performed strongly in terms of sales and prices, with a 9.3% annual price increase. However, new sales dropped dramatically in Q4 2022.

• CCR (Core Central Region): Demand remains strong, with foreign buyers increasing their share, but sales volume decreased by 33.8% q-o-q.

• Rental Market: Leasing demand persists despite a rental volume decrease. Foreign professionals are moving to Singapore for work, influencing rental benchmarks and demand.

• Market Outlook: Despite 2023 new completions of approximately 17,000+ new private homes, transaction volumes may remain constrained until adequate supply is available. Non-landed residential demand remains influenced by global economic factors and rental pressures.

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