cooling measures, together with the supply-side policies, have shown to be effective in tempering sentiments and preventing the market from overheating – the same is expected in the coming quarter," the report said.
However, new major condominium launches are likely to continue to fetch a significant premium over resale homes, leading to sharp jumps in the transacted median unit prices in districts with new launches. He expects the median per square foot for new condominium launches to begin from S$2,000, regardless of location.Mr Eugene Lim, key executive officer of ERA, said that alt
But despite the high interest rate environment and somewhat uncertain global economic landscape, buyers continue to display a keen interest in new homes, he added. The interest is buoyed by strong Singapore economic fundamentals, low unemployment rates, healthy household savings ratios, and more recently, the improving business sentiments for the second half of 2023.
Among the deferrers, about half cited high property prices as a deterrent. Two other top reasons are elevated interest rates and the impact of property cooling measures.