According to the URA second quarter figures, it’s pretty clear that the demand for some new private residential homes has improved quite a bit in the first half of this year. At this time, it’s clear that the market is booming, and customers couldn’t be happier with this particular idea.
According to some of the sales figures, the sale of private residential units is up by 64% when compared to the first half of 2016, so it’s clear that the market is doing very well. The market saw a sale of 6039 units during the first half this year when compared to 3675 units sold in the past year.
Why is this important? Because the real estate market is booming at this time, and knowing when as well as how to invest in the best units is a crucial thing to focus on. Sure, there can be a bit of a hassle, but the idea is that some of the best real estate project, including the luxury ones like a recent new launch, Martin Modern managed to sell a lot. Not only that, but they surpassed their sales goal of up to 60 units with almost 30 in total.
There’s a pickup in sales for just about all regions, such as the Core Central Region, the Outside Central Region and the Rest of the Central region. The market may be bottoming out soon, while others may end up dealing with a bit of a challenge and hassle at this point.
You should consider the fact that investing in real estate in Singapore is a treat at this particular point. The prices are attractive, so obviously people are enjoying them a lot. The market may still be active in 2018; however people are also buying because the economy is bad.
So, the fact that the prices are lower when compared to other years is what makes the market booming for sure. However, people have lost their faith in the alternative investments, so investing in brick and mortar is by far the best possible option you can find at this point. The market watchers do believe that the real estate market will continue to do well this year.
When it comes to the next year, it’s important to note that everything depends on the government land sales program for next year. The collective sales sites may also have an impact on this as a whole, so only time can tell what and how will happen.
Some things like the overall supply will also be making a lot of difference. But yes, only time can tell us if these things will be worth it or not. As long as things will be ok, there’s no reason to panic about the real estate market as of now. But yes, if there will be any massive changes, these may be a part of the entire process, and they can even bring in front some bad situations. Hopefully, the situation will be amazing, and everything will be at its best so the market growth can continue. There were around 7972 sales last year, this year there will be around 11000 or even 12000. So yes, there’s a lot of growth, and hopefully, the trend will still be there for the long haul!
Singapore Condos that are under construction and will be obtaining TOP in 2017/2018