Yield Growth Will Lead Capital Values

Hi, this week we examine the 1) resale market, and 2) rental market.

1) Resale Market (Singapore-wide, non-landed, ex-EC)
Between June 2021 to June 2022:
a. Average PSF grew 10.2% YoY ($1,375 PSF to $1,515 PSF);
b. Volumes are down 3.7% YoY (1,282 transactions to 1,235 transactions).

Between May 2022 to June 2022:
a. Average PSF grew 1.0% MoM ($1,499 PSF to $1,515 PSF);
b. Volumes are down 3.0% MoM (1,273 transactions to 1,235 transactions).

In June 2022, the 3 projects with the most resale transactions were Sims Urban Oasis (14), Parc Rosewood (11) and D’Leedon (11). Details of the top 200 of 628 transacted projects by volume are included in the PDF below.

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.

2) Rental Market (Singapore-wide, non-landed, ex-EC)

Between June 2021 to June 2022:
a. Average yield grew 16.3% YoY (3.25% to 3.79%);
b. Volumes are down 23.0% YoY (4,241 transactions to 3,264 transactions).

Between May 2022 to June 2022:
a. Average yield grew 5.4% MoM (3.59% to 3.79%);
b. Volumes are down 4.8% MoM (from 3,427 to 3,264 transactions).

In June 2022, the 3 projects with the most rental transactions were Marina One Residences (32), Lake Grande (26) and The Sail @ Marina Bay (26). Details of all the top 200 of 1,019 transacted projects by volume are included in the PDF below.

Top Rentals

Skystone Research