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
Country Garden to begin court battle against liquidation threat
US single-family housing starts, permits fall in April
Strong demand for ECs could spur competition for Pasir Ris GLS site
Punggol Digital District to open from Q3 with 65% of space pre-committed
Retail units at 20 Cecil Street for sale from S$3.8 million
China property stocks gauge jumps on proposal for home purchases