Three major developments outside the Central District (OCR) - AMO Residence, Lentor Modern at Curved Water and Sky Eden@Bedok可能是导致价格上涨7.5%的因素. This was the fastest price increase outside the Central Region (OCR) since the third quarter of 2009.
Prices in the Other Central Region (RCR) increased by a further 2.8% in Q3 2022, outpacing price increases in the Core Central Region (CCR) and closing the gap with the Core Central Region (CCR).
The median price per square foot for new homes in the Other Central Region (RCR) is estimated at S$2,431 as at Q3 2022, which is 13.5% lower than the median price per square foot in the Core Central Region (CCR).
As the price gap narrows, more buyers are choosing to buy homes in the Central Core Region (CCR).
Developers sold 562 units in the CCR in the third quarter of 2022, despite launching only 240 new homes.
1,455 new homes were launched in the third quarter of 2022. No new properties were launched during the seventh month of the Chinese lunar calendar, so the number of launches in the third quarter of 2022 was much lower than the 1,956 units launched in the second quarter of 2022.
Despite the lower number of units launched, 2,187 units were sold in the third quarter of 2022, close to the 2,397 units sold in the second quarter of 2022. total developer sales for the first nine months of 2022 were 6,409 units. Chart 1: Developer new property sales
As all major releases in Q3 2022 were concentrated outside the Central Region (OCR), these projects dominated the top 10 best-selling list.
Transactions in the resale market fell by 12.2% to 3,719 units in the third quarter of 2022. A sharp rise in interest rates caused buyers to postpone purchases in the resale market.
The median price of resale homes rose by another 2.6 per cent to S$1,482 per square foot in the third quarter of 2022, with the resale market fast catching up with new home prices.
Demand from foreigners decreased slightly to 264 transactions in 3Q2022 from 296 transactions in 2Q2022.
The top five nationalities of buyers purchasing homes in Singapore are China, Malaysia, India, the United States and Indonesia.
In Q3 2022, 41.3% of transactions were priced below S$1.5 million, 24.2% were priced between S$1.5 million and S$2 million, and 34.5% were priced above S$2 million.
80.6% of the purchasers were Singapore citizens, permanent residents and foreigners at 14.9% and 4.1% respectively. Table 2: Comparison of prices and buyer types (all sales types)
No new Executive Condominium (EC) projects were launched in the third quarter of 2022, with 28 EC units sold by developers.
EC was relatively unaffected by the cooling measures. The first EC project launched in Tengah, Copen Grand, sold 73% of its units on the day of launch. And another EC, Tenet, is targeted for launch in December.
The number of launched and unsold inventory on the market stands at 2,133 units, the lowest level since the fourth quarter of 2018. Following cooling measures and the year-end holidays, developers may push back the start date of some private homes to next year.
Transaction volumes are likely to slow down in the fourth quarter of 2022 to between 1,000 and 1,500 units. new sales transactions in 2022 are likely to hover around 8,000 units.
Prices are likely to increase steadily by 1% to 2% in the fourth quarter of 2022, and the market is likely to grow by 9% to 10% in 2022.
