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OUTLOOK 2023

Private property market to stay resilient in 2023, city fringe to outperform

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Ry-Anne Lim

Ry-Anne Lim

Published Wed, Dec 28, 2022 · 05:50 AM
    • Huttons Asia estimates that overall supply of new condominiums will pick up in 2023 to around 10,000 to 12,000 units spread over 40 launches.
    • Huttons Asia estimates that overall supply of new condominiums will pick up in 2023 to around 10,000 to 12,000 units spread over 40 launches. PHOTO: BT FILE

    SINGAPORE’S private residential market will remain resilient in 2023, with the city fringe, or Rest of Central Region (RCR), leading the way in price performance and new launches, say analysts.

    The supply of homes is likely to increase. Yet, market analysts believe pricing will be supported by the quality of projects up for sale next year. Demand is likely to come from those looking to upgrade their homes, as well as foreigners drawn to Singapore’s safe and hospitable environment.

    This expected resilience in property prices could make Singapore an outlier among major global cities, as the likes of London and Hong Kong grapple with falling prices in reaction to central banks aggressively hiking interest rates. 

    ResidentialSingapore residential propertyResidential propertySingapore property

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