Recent developments in the Singapore private condominium market indicate a continued rise in resale prices, albeit at a decelerated pace, alongside a decrease in transaction volumes. Nevertheless, compared to the same period last year, resale prices have still shown significant growth, reflecting stability in overall market demand and recognition of the market's potential.

According to unofficial estimates, resale prices of private condominiums in Singapore rose by 0.4% last month. This increase, although slightly lower than the previous month's data, indicates a gradual upward trend in the market. Resale prices in the core central region remained stable, while prices in other central and non-central areas increased by 0.3% respectively.

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Despite the moderated pace of price increases, annual growth in resale prices of private condominiums has reached 4.2%, affirming their long-term investment value. In May, a total of 1,084 units were transacted, marking a 5.5% decrease from the previous month but a 7.2% increase compared to the same period last year. This suggests that while the market experiences fluctuations, overall transaction activity remains robust.

Market analysts attribute the deceleration in price growth to factors such as government real estate regulatory policies, interest rate fluctuations, and adjustments in market supply and demand dynamics. These factors collectively prompt market participants to exercise greater caution and prudence in their investment decisions.

For homebuyers, a stabilizing market may imply more time and flexibility to select suitable properties and negotiate prices. For owners holding investment properties, reassessing asset allocation and long-term planning becomes crucial to adapt to market changes and maximize investment returns.