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Condo prices on track for ‘stabilisation’ as cooling measures hit

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pstrongPrices of ‘prime’ private homes are likely to remain flat at -1% and 2%/strong/p pa href="https://sbr.com.sg/residential-property/news/condo-rents-fall-05-mom-and-45-yoy-in-may" rel="noreferrer noopener nofollow noopener" target="_blank"Private home prices/a rose by 1.1% in Q2, easing from the 1.

rose by 1.1% in Q2, easing from the 1.4% price increase in Q1, according to flash estimates from the Urban Redevelopment Authority .

“The private home market will continue on the path towards stability and will likely plateau in certain market segments in the remaining half of 2024 with demand continuing to be selective and measured, especially with options from upcoming launches,” says Leonard Tay, head, research, Knight Frank Singapore.

“Prime non-landed home prices are likely to have started to flatline with pressure on sellers to lower expectations, given the lack of demand from foreign buyers due to the doubling of the Additional Buyer’s Stamp Duty rate to 60% from end-April 2023,” Tay said.

 

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