More homeowners cash out as property prices peak

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.