New year, new market at least that seems to be the case with real estate in Singapore. Property here is dynamic and ever-changing, and not just because of our overnight cooling measures; everything from layout preferences to rental prospects can be different in a year. Here are some of the likely trends we'll see, based on where we left.
As we cross beyond the second half of 2023, things are looking up on the buyer's side. More new homes are being completed, and the uptick in prices has begun to moderate somewhat. There has been a spread of new launches in recent months, and unlike the first few years of the pandemic, they aren't selling out the majority of.
A month ago, I saw a notice advertising the sale of a freehold residential conservation shophouse at Niven Road. As I mentioned in my Blair Road walkabout, I've always loved heritage homes, so I thought I'd check out the area and see if it was worth a feature. (If it was just shophouses, it may be too similar to Blair.
Whether you're a homeowner or a landlord, having an MRT station nearby is still a major draw; and given the fewer launches in 2023 (compared to 2020/21), it's important to be a bit more picky. There's also just the "small" matter of the very high COE rates right now, and it may just be the kicker to stop relying on.