Largely stable Singapore property market expected for 2024: Savills
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US renters seeing chance of owning a home at record low: NY Fed survey
Shenzhen eases home buying to revive sales in China tech hub
Far East Orchard looks to sell Rendezvous Hotel Perth Central for A$18.5 million
Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in Q3
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price
China home sales slump 47% over May Day holiday vs 2023