{"id":123182,"date":"2021-11-12T03:43:54","date_gmt":"2021-11-11T20:43:54","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homebuying-demand-to-remain-buoyant\/"},"modified":"2021-11-12T12:06:07","modified_gmt":"2021-11-12T05:06:07","slug":"homebuying-demand-to-remain-buoyant","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homebuying-demand-to-remain-buoyant\/","title":{"rendered":"Homebuying demand to remain buoyant"},"content":{"rendered":"


\nIn Q3 2021, overall transaction volume for private homes increased by 7.5% from the previous quarter\u00a0to 9,083 units; this is a\u00a028.9% year-on-year growth.
\nHomebuying demand in Singapore is expected to remain buoyant, particularly in suburban areas where pricing quanta are lower and relatively more affordable, said Lam Chern Woon, Head of Research and Consulting at Edmund Tie.
\n\u201cGiven the improving economic fundamentals and a buoyant public resale housing market, we expect the residential market to remain on sound footing as we move into the final quarter of the year,\u201d he said.
\nIn Q3 2021, Singapore witnessed an increase in sales activity for non-landed private homes, with primary sales expanding 19.7% quarter-on-quarter to 3,550 units while secondary sales grew 0.9% quarter-on-quarter to 5,533 units.
\nEdmund Tie attributed the increased sales to the easing\u00a0of COVID-19 safety measures, opening of borders as well as\u00a0improved buyer confidence.
\nNotably, overall transaction volume rose 7.5% quarter-on-quarter and 28.9% year-on-year to 9,083 units in Q3 2021.
\nThe Outside Central Region (OCR) registered the highest quarterly growth of 28.3% in overall transaction volume, with quarterly growths of 97.7% in primary sales and 4% in secondary sales.
\nRelated article:\u00a0RCR vs OCR Resale Condos in Singapore: Which Makes a Better Home or Investment? 7 Factors to Consider
\n\u201cThe OCR\u2019s strong growth in primary sales volume for the quarter was accounted for by its sizeable 81.4% quarter-on-quarter growth in new launches, which at 1,319 units was the most out of the market segments,\u201d said Edmund Tie.
\nThe Core Central Region (CCR), on the other hand, saw overall transaction volume decline 24.9% quarter-on-quarter. Secondary sales dipped 9.8%, while primary sales dropped 45.5% quarter-on-quarter, corresponding to the 59.8% quarter-on-quarter fall in new launches within the region in Q3 2021.
\nOverall transaction volume in the Rest of Central Region (RCR) remained relatively unchanged, slipping by just 0.4% in Q3 2021 from the previous quarter. Primary sales declined 4.6% quarter-on-quarter, while secondary sales rose 3% quarter-on-quarter.
\n\u201cThe quarter\u2019s strong take-up rate for new OCR launches attests to the sustained demand for suburban homes due to continued work-from-home culture and lower price quanta,\u201d said Lam.
\nOver at the non-landed primary market, units between 700 sq ft and 1,000 sq ft accounted for the highest proportions of transactions at 39.4% of the total primary sales in Q3 2021.
\nComparatively, the largest proportion of transactions in Q2 2021 were for units between 500 sq ft and 700 sq ft.
\nMoreover, the proportion of transactions for larger units above 1,000 sq ft increased to 33.5% of primary sales in Q3 2021 from 27.3% in the previous quarter, marking the third consecutive quarterly increase.
\nConversely, the proportion of transactions for smaller units below 500 sq ft declined to 3.3% in Q3 2021, from 9.4% in Q2 2021, or its third consecutive quarterly decline.
\n\u201cThese trends reflect a shift in preference to the larger units with more bedrooms away from studio apartments, which may have lost some appeal amongst buyers despite their lower price quanta,\u201d said Lam.
\nNonetheless, the proportion of transactions for units priced below $1 million increased to 9% in Q3 2021 from 5.4% in the previous quarter.
\n\u201cThis suggests robust availability and mass-market demand for units that were priced at a lower quantum,\u201d said Edmund Tie.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Homebuying demand to remain buoyant<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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While private residential prices appeared to have diverged from economic fundamentals as it continued to increase for the second consecutive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37158,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow\/","url_meta":{"origin":123182,"position":1},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. (Photo: Christopher Chitty) The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in Q3 2016, revealed a report from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow-2\/","url_meta":{"origin":123182,"position":2},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r A stronger resale market overall Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. Image credit: Christopher Chitty The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condominium-sales-rose-49-2-qoq-in-q3-2019\/","url_meta":{"origin":123182,"position":3},"title":"New condominium sales rose 49.2% QoQ in Q3 2019","date":"November 15, 2019","format":false,"excerpt":"\r Despite a dip in new project launches, more units put up for sale compared to Q3 2018.\u00a0 New condominium sales grew 49.2% quarter-on-quarter (QoQ) or 16.9% year-on-year (YoY) to 3,198 units, compared to 2,736 units in Q3 2018, reported Singapore Business Review citing a Edmund Tie report. This figure\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-for-private-homes-remain-strong-in-q3\/","url_meta":{"origin":123182,"position":4},"title":"Demand for private homes remain strong in Q3","date":"October 13, 2021","format":false,"excerpt":"\r Despite fewer projects launched in Q3 2021,\u00a0there were 3,358 new sale transactions, up from 2,838 in Q2 2021. Singapore saw no significant drop in demand for private homes during the third quarter of 2021, even as the city-state reverted to Phase 2 (Heightened Alert) from 22 July to 18\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Singapore-Condo.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":101756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-dampened-buying-sentiment-in-q3-report\/","url_meta":{"origin":123182,"position":5},"title":"Cooling measures dampened buying sentiment in Q3: report","date":"November 28, 2018","format":false,"excerpt":"\r En bloc sales in Singapore have come to a halt while residential sales have also suffered. The government\u2019s latest round of property cooling measures dampened buying sentiment in the private residential market during the third quarter of 2018, said Edmund Tie & Company (ET&Co) in a report. This comes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123182"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=123182"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/123183"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=123182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=123182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=123182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}