Singapore’s private home market closes 2024 on a high; will late-year burst fizzle out?
Sentiment looks to be improving, but this momentum may not sustain into the new year, say analysts
Add BT as a preferred source
SINGAPORE’S private residential market seemed to spring back to life during the fourth quarter, in a year when new home sales earlier collapsed to record lows and buyers stayed on the sidelines with market-cooling measures in place.
It was also an unprecedented year for state land sales, with three sites not awarded and one tender closing with no bids as developers shied away from risky projects.
Sentiment appears to be improving after new home sales jumped in November, although analysts are not betting that the recent surge will be sustained, and prices are not expected to climb much higher next year.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
UMS Integration closes 10.2% higher after posting ‘strong’ double-digit sales growth in Q1
