Govt Won’t Ease Supply of Private Housing

With the high demand and historical low supply of unsold units, the number of new launches units will be available for sale between 8,000 to 9,000 units in the first half of 2017.

With high demand and continue demand for new condominium units, there is a high chance the ABSD will be here to stay for a couple of years.

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ARTRA Residences Condo News | Redhill Alexander View New Launch

ARTRA Residences Condo News | Redhill Alexander View New Launch

Upturn in Market Sentiment Bodes Well for New Home Sales

Consultancy Knight Frank expects sales volume to be around 8,000 to 9,000 residential units this year amid “gradually returning interest” from locals and foreign buyers.

This upturn in market sentiment, market analysts say, bodes well for new home sales.

“With more people believing that the market is now close to the bottom of the down cycle, interest in the new launches will likely be sustained,” said Cushman & Wakefield research director Christine Li.

Among the upcoming launches, the highest profile project is probably the 429-unit Park Place Residences at Paya Lebar Quarters (PLQ), Lendlease’s first residential development here.

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Singapore Market Outlook for 2017

The Singapore economy grew by 1.8% in 2016, according to advance estimates by the Ministry of Trade and Industry (MTI), beating the earlier forecast of 1.0% to 1.5%. Of the goods producing industries, manufacturing grew 2.3% while construction grew 1.3% in the year. Services producing industries saw a relatively slower rate of growth at 0.9%, supported mainly by “other services industries”, transportation & storage, and business services sectors. MTI earlier forecasted economic growth in 2017 at between 1.0% and 3.0%.

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