2023 is here! What does this mean for you as a homeowner in Singapore?
Here are some housing trends in this new year that I’d like to share. Look out for them – especially if you’re planning to make a big “”home”” move this year.
1️⃣ More completed BTO and condos.
Covid-19 pushed back a lot of construction deadlines, but here we are now. Expect TOPs happening in your nearest developments. This may be a good time for you to make decisions about possibly buying or even flipping your properties.
2️⃣ Increase in houses may see more demand and lower prices in houses.
Yay for more houses, which means more choices. But there is a small flipside to this. With the increase in supply and demand, the prices of home units might reduce. Great for buyers, but something to consider if you’re selling.
3️⃣ Rents may stabilise.
The cooling measures that happened last year shifted the property market quite a bit. While rents soared last year, there is an expectation of the rents stabilising. Not sure what this means for you? Let’s talk!
4️⃣ Higher interest rates may drive more people to hold their property purchases or sell.
If you’re looking to sell, buy or rent, please take the higher interest rates into consideration. I’ve always advised clients to make prudent financial decisions – and maybe holding off on bigger decisions might be the right approach for you.
If you’re looking for a property agent for your property needs in 2023 and beyond, my team and I will be happy to assist you!
Drop me a message on my FB or IG, or WA me at 9178 4459 for a non-obligatory consultation.
The cooling measures that happened last year shifted the property market quite a bit. While rents soared last year, there is an expectation of the rents stabilizing. Not sure what this means for you? Let’s talk!