$PSF dips for 1st time in 2022

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

1) Resale Market (Singapore-wide, non-landed, ex-EC)

Between Sep 2021 to Sep 2022:
a. Average PSF grew 9.0% YoY ($1,398 PSF to $1,525 PSF);
b. Volumes fell 13.2% YoY (1,462 transactions to 1,269 transactions).

Between Aug 2022 to Sep 2022:
a. Average PSF contracted 0.4% MoM ($1,531 PSF to $1,525 PSF);
b. Volumes fell 6.0% MoM (1,351 transactions to 1,269 transactions).

In Sep 2022, the 3 projects with the most resale transactions were Sims Urban Oasis (16), D’Leedon (11) and Cape Royale (10). Details of the top 200 of 601 transacted projects by volume are included in the PDF below.

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

Between Sep 2021 to Sep 2022:
a. Average yield grew 18.2% YoY (3.27% to 3.86%);
b. Volumes are down 17.7% YoY (3,564 transactions to 2,933 transactions).

Between Aug 2022 to Sep 2022:
a. Average yield grew 2.53% MoM (3.77% to 3.86%);
b. Volumes are down 15.8% MoM (from 3,483 to 2,933 transactions).

In Sep 2022, the 3 projects with the most rental transactions were Marina One Residences (27), The Sail @ Marina Bay (26), and Reflections At Keppel Bay (23). Details of all the top 200 of 1,000 transacted projects by volume are included in the PDF below.

Skystone Research