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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