Largely stable Singapore property market expected for 2024: Savills
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
DEVELOPERS are expected to lower their bids for Government Land Sales (GLS) sites due to uncertain market conditions, thinning margins and previous record-breaking bids, but Savills Singapore expects residential values to remain resilient.
In a market-outlook briefing on Tuesday (Oct 31), the real estate consultancy noted that the Additional Buyer’s Stamp Duty (ABSD) has had an impact on both the price and volume of non-landed transactions in the Core Central Region (CCR) in the third quarter.
However, prices of private residential properties islandwide still rose 0.8 per cent during the quarter; Savills expects them to remain flattish in 2024.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
