More homeowners cash out as property prices peak
Median profit for private homes held for a “relatively short” holding period also doubled to S$247,000 since 2019
MORE private homeowners in Singapore sold their properties last year, as home prices appear to have peaked and the white-hot real estate market eased after successive rounds of cooling measures.
According to data crunched for The Business Times by real estate consultancy Cushman & Wakefield, the total number of deals for non-landed private homes, including executive condominiums, with a holding period of five years or less nearly quadrupled to 2,507 in 2023, from 681 in 2019.
The proportion of such deals over all resales and subsales with a prior purchase history also rose to 28.9 per cent in 2023, from 27 per cent in 2022 and 25.4 per cent in 2019.
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