Sales volume dropped 8.5% QoQ as prices continued to climb. Higher prices and locations that are near amenities like transportation hubs and schools will make home buyers more discerning in 2024.
Sales volume dropped 8.5% QoQ as prices continued to climb. Higher prices and locations that are near amenities like transportation hubs and schools will make home buyers more discerning in 2024. New private residential sales volume declined 8.5% QoQ Q3 2023 to 1,946 units, following two consecutive increases despite the increase in launched units in Q3, a report by Savills revealed.
Alan Cheong, Executive Director, Research & Consultancy at Savills Singapore said this could be due to buyers’ selectivity to the high interest rate environment which might have caused them to choose their project with greater scrutiny. Savills reported that 49.7% of the new sales came from the Rest of Central Region (RCR). However, as there were fewer units launched on a QoQ basis in the market segment, this was a 38.5% quarterly decrease from the 1,573 units in the previous quarter. Notwithstanding more units being launched in the Core Central Region (CCR), new sales in that market segment fell 43.1% QoQ to 253 unit
Singapore Sales Volume Prices Residential Buyers Market Segment
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