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

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.