Private-home sub-sales continue to hit new highs in 2023
Volumes rise to their highest level in a decade with 1,294 transactions as market confidence grows
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SUB-SALE volumes in Singapore’s private housing market rose yet again in 2023 to their highest level since 2013 with 1,294 transactions, a 69.2 per cent jump from the previous year.
This is the second straight year of strong growth in the sub-sales market, which is typically seen as a proxy for speculative buying behaviour. Volumes had hit a decade-long high in 2022 with 765 transactions, up 34.7 per cent from 2021.
Still, current levels are a fraction of the 4,863 sub-sale deals recorded during the housing market’s peak in 2007. And the rise in sub-sales is likely a result of the recent strong run-up in home values.
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