According to a poll conducted by the Institute of Real Estate and Urban Studies at the National University of Singapore, real estate sector participants are getting more apprehensive about the market outlook for the next six to twelve months due to different global economic uncertainties (IREUS).
Nearly 97% of respondents to the Real Estate Mood Index (RESI) study identified rising inflation or interest rates as the leading potential risk factor that could have a negative influence on market sentiment over the next six months. Respondents ranked this as the most concerning risk factor. Eight out of ten respondents each highlighted a deterioration in the global economy and a tightening of funding and liquidity on the debt market as potential dangers.
The proportion of individuals concerned about growing building prices has fallen from 94.9 percent in the first quarter to 80 percent in the second quarter, but it remains one of the top four threats. People would be concerned about the real estate bubble or speculators, which consequently leads to people losing their jobs and a poor economy. These two options earned around 16.7 and 36.7% of the vote, respectively.
An anonymous caller stated, “Developers will want to launch swiftly while attitudes are favourable and before loan rates rise more.” In this robust market, it is predicted that new project pricing will be moderately more expensive because to the high cost of land and the higher cost of construction. Nevertheless, developers are under pressure to set prices in a manner that will attract purchasers, given the recent rise in inflation and interest rates.
The Lentor Modern, Lentor Hills Residences, Tenet EC, as well as other interesting new debuts, are imminent.
Lentor Hills Residences, next to a integrated complex in the Lentor MRT, is now under construction. We expect that The Reserve Residence’s showroom will be available for viewing in the first quarter of 2023.
The debut of Tenet EC at Tampines North in 2022 will be another spectacular executive condominium. In November of 2022, the Tenet EC model apartment will be available for viewing.
Another development will be The Reserve Residences an integrated development at Beauty World Transport Hub. With Lentor Modern selling so well, The Reserve Residences will continue to perform.
Sixty-four percent or more of those who participated in the study anticipate that the unit prices of newly released products within the next six months will be somewhat or significantly higher. A little more than one-third of respondents projected that the pricing of newly introduced products would remain unchanged, while just 6.3% anticipated major price reductions.