September 2023 brought with it a fresh breeze of change in Singapore's real estate scene. Riding on the momentum from August, which witnessed the market's remarkable resilience against challenges like climbing interest rates and new regulations, September continued to tell a story of growth.

Dive in with us as we explore the latest in the September Property Market Snapshot.

Hot Topics in Singapore Property Market September 2023

1. URA releases residential site at Lorong 1 Toa Payoh for sale under 2H2023 GLS Programme.

The site can potentially yield about 775 residential units, contributing to the increased supply of private housing in Singapore. The tender for the site will close on 7 November 2023. Read more >>

2. Private new home sales in Singapore drop by 72% in August, but year-on-year sales only down 10%.

The muted market sentiment and buyer fatigue from numerous recent launches contributed to the decrease. The Outside Central Region (OCR) led the sales with 192 units sold. Sales of executive condos (ECs) surged in August, driven by the launch of Altura EC in Bukit Batok. Despite the decline in sales, it is forecasted for new home sales to remain on track. Read more >>

3. Four Singapore REITs with attractive distribution yields from 7% could be potential bargains for investors, but caution is advised due to rising interest rates and inflation.

Cromwell European REIT, iREIT Global, Sasseur REIT, and United Hampshire US REIT all offer attractive distribution yields and have reported positive financial results. However, investors should be cautious about the potential impact of rising interest rates and inflation on these REITs. Read more >>

4. Singapore Emerges as Global Leader in Cross-Border Real Estate Investment.

Singapores cross-border capital investment reached $21.8 billion in the first half of 2023, making it the worlds leading source of capital investment. The country spent most of its cross-border capital on real estate within its regions. Singapore is also among the top 10 investment destinations globally this year, indicating a positive investment mood. Read more >>

5. Enhancements and upgrades planned for Queenstown and Farrer Road Estate to improve residents well-being.

About 79,000 residents of Queenstown and the neighbouring Farrer Road Estate can look forward to an array of enhancements and upgrades are aimed at fostering their physical, social, and mental well-being, enabling them to lead healthy and active lives. Read more >>

Price Indexes

*Index value is 1 at year 2008

1. Residential Price Index

2. Commercial Price Index

Residential Snapshot

1. Top 5 Districts with highest Month on Month (M-o-M) Index

As anticipated, this month's price index spotlighted districts nestled within the central area. Districts D02, D07, D11, and D09 led the charge, reflecting a consistent preference for these prime locations. These areas, with their strategic positioning and coveted amenities, remain hotspots for both investors and home-seekers.

2. Top 5 most popular projects (Condo) in September 2023

The Altura - a new EC project launched in August 2023, continued to be on top of the list of the most popular projects by sale volume this month. Lentor Hills Residences - launched in early July 2023 - showed consistence performance by maintaining its position in the top 5 in the past 2 months.

3. Top 5 most popular projects (HDB) in September 2023

4. Top 5 highest transacted price (Condo) in September 2023

5. Top 5 Transactions by Annualised Capital Gain/Loss in September 2023

Residential Listings (Condo, HDB, Landed) April - September 2023

*New Listing: the total number of listings that are newly added in that particular time period​

*Data updated as of 17 Oct 2023

Commercial Snapshot (July - September 2023)

1. Top 5 Office and Retail Sale (by volume and transacted price)

2. Top 5 Shophouses with Highest Transacted Price (Sale and Rent)

All analytical and visually interpreted data in this a is powered by RealAgent, a comprehensive app for real estate professionals. It offers a blend of property information, real-time transaction data, and advanced analytics, ensuring accurate and up-to-date insights for our report. Find out more about RealAgent here.

Download the full report (PDF) here: September 2023 - Singapore Property Market Snapshot.pdf

To know more about our data-driven real estate solutions, contact us here.

Continue to read our other data insights articles:

Unprofitable Condos in Singapore: What do they have in common?

Million dollar HDB in August 2023 - A different story told by real-time data

Singapore Property Market Snapshot - August 2023

The new 2023 cooling measures' impact: Home sellers are selling at a loss

High vs Low: Are high-floor units always more profitable?

Condo price surge after a new project launch in the surrounding area? Here’s what our data suggest

Read more >>

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