As Singapore home sales surge, is the government ready to hit the brakes?
Singapore authorities have sought to calm the housing market by introducing multiple rounds of cooling measures in recent years
Developers likely sold more than 6,500 new units last year, based on preliminary calculations, after figures for December were released on Wednesday by the Urban Redevelopment Authority.
That surpasses the 6,421 transacted in 2023, exceeding forecasts from consultancies including CBRE Group Inc. and Jones Lang LaSalle Inc., which had expected a drop from 2023.
The full-year rebound came despite a typically quiet December, dominated by a year-end school holiday and the Christmas holiday, in which just 203 units were sold.
But a rebound during the last quarter – driven by the release of mass-market projects and a rush of demand from buyers motivated by decreasing borrowing costs – has changed the dynamic.
