Waiting For -10% in Prices? Don’t Hold Your Breath.

Hi, this week we look at CCR new launch monthly sales trends. The number of monthly transactions grew from January (97) through May (211), then slipped in June (181). Ave $PSF stayed range-bound between $2,765 to $2,885.

The PDF below will list the top 30 CCR projects by sales volume in June 2022.

As written on 26 March 2022, I’m maintaining my private residential price index outlook of +2% to +4% for the year. Though 1) the Russian-Ukrainian conflict has proven more protracted than I expected, 2) conflict-associated commodity-led inflation has worldwide economies tethering on the brink of recession, or pricing in the same, as well as 3) rising interest rates (MAS just effected an off-cycle re-centering of the Nominal Effective Exchange Rate, slope and width unchanged, today) - the Singapore property market has strong expatriate inflows driving 35% Y-o-Y uplift in rentals, as well as strong Y-o-Y employment numbers, as mitigators.

I will cover this more as we explore sales, average $PSF, as well as rental trends of the private resale, landed, and non-residential segments in the coming weeks.

Skystone Research