Market Analysis
How is the residential market resale market in May 2023?
Resale prices increased by 0.9% in May 2023; 1.3% in April 2023.
Volume?
Resale volume increased by 8.9% in May 2023 – 946 units resold; 869 units in April 2023.
Meaning?
The price of resale residential market is moderating but supported by strong demand!
Why enter resale market?
The price gap between new developments and resale properties averaged 62.3% in May 2023; 60.9% in April 2023.
This made the larger size unit with lower psf attractive for buyers with limited budget but wishing for bigger family space.
By buying ready to move in resale units, buyers would be able to move into these units and sell their existing house to meet the 6 months ABSD remission period.
How were the different part of Singapore resale market performing?
Core Central Region accounted for 17.5%, Rest of Central Region 31.8% and Outside Central Region 50.7%
Do you believe buying new developments would be a better choice for asset appreciation and wealth preservation?
Do you believe buying new developments would allow buyers to space out their financial commitments better?
Do you believe that buying new developments would allow buyers more runway to hedge against paying the current high interest rate?