A broad-based recovery in the Singapore real estate market with record improvement in data metrics show in most segments, according to a 1Q2022 report by CBRE.
Such report was released ahead of property market data for 1Q2022 which is expected to be released by URA at the end of the month.
In the post-cooling measures sellers and buyers have adopted wait-and-see approach with only 1,716 new private homes (excluding executive condominiums or ECs) sold in 1Q2022 which is well below the five-year average.
Private home price growth lost its growth in 1Q2022 as cooling measures took effects with private residential landed properties has marginal 0.4% increase quarter on quarter prices as compared with a 5.0% surge in the preceding quarter. Overall non-landed home prices has a 0.6% decline q-o-q, reversing from the 5.3% growth in 4Q2021.
It will be interesting to see any cooling measures on the new condo launch of The Arden and Sceneca Residence.
