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More private developments expected to hit the market this year
Jan 11, 2023
By   Internet
  • City News
  • Private housing market
  • property projects
  • housing market
Abstract: As we enter 2023, property analysts interviewed expect more private developments to come to the market this year.

MediaCorp English News Network (CNA) reports that 21 projects were launched in the local market last year.


The property analysts interviewed expect that between 30 and 40 projects could be launched this year, adding between 10,000 and 12,000 new private residential units to the local market, with around half of them located on the urban fringe.


In an interview, Bona Real Estate's president, Mr Ishmael, predicted that ten new projects could be launched in the next three months.


He also predicted that buyers who had chosen to wait and see because of the lack of desirable projects might come in and push up demand.


Some analysts also believe that local property prices will stabilise, with slower growth but no decline.


In an interview, Dr Naijia Li, Head of Data Technology Real Estate Intelligence at PropertyGuru, an online property database, predicted that sales of new projects launched this year will perform well, but this will depend on whether there are limited options in the medium term.

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