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Singapore New Launch Condos: Rising Interest, Inflation Threaten Market

Singapore New Launch Condos: Rising Interest, Inflation Threaten Market.

Nine out of 10 senior executives from New Launch Condo in Singapore cited inflation and rising interest rates as the top potential risk factors that could weigh on market sentiment in the second half of the year. coming, poll results show.

This has overtaken growing construction costs, which previously topped the list throughout the first three quarters of 2021 in the National University of Singapore Real Estate (NUS+RE) quarterly questionnaire. . In the Q4 2021 edition of the Real Estate Sentiment Index (RESI), about 73.3% of respondents identified rising costs as a key risk, down from 93% in Q3.

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New Launch Condos - Next on the list is financial tightening and liquidity in debt markets, chosen by 65.8% of executives, up from 32.6% in the previous quarter's survey. Meanwhile, the percentage of respondents who consider "government intervention to cool down the market" as a potential risk fell the most to 39.5% from 62.8% previously.

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The RESI Research Composite Sentiment Index, a derivative of overall real estate market sentiment, also fell for the third consecutive quarter to 5.4 in Q4. This is down from 6. ,6 in Q3, 6.7 in Q2 and 6.8 in Q1.

Sing Tien Foo, Director of the NUS Real Estate and Urban Research Institute (IREUS), said: "The drop in sentiment indicators is mainly due to the new government cooling measures introduced in December 2021. The most negatively impacted upscale residential area is affected in the Q4 2021 sentiment survey."

NUS+RE stated that despite the decline, the index remained above 5, showing that overall sentiment on current and future conditions remains positive.

In terms of the number of New Launch Condos and future sales, 47.1% of respondents expect moderate or significant apartment launches over the next 6 months, while 30% The number of apartments launched is expected to be moderate or significantly more.

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About six out of ten real estate executives also expect unit prices of new launches over the next six months to be moderately or significantly higher, while 35 percent expect prices to stay the same.

IREUS Deputy Director Lee Nai Jia noted: "The confluence of factors - including a recovering economy, dwindling supply due to delayed launch projects and the perception of real estate as a resilient property class - has generated strong demand from first-time homebuyers and upgraders."

Dr. Lee pointed out that most respondents hold a cautiously optimistic view of the private housing market despite cooling measures and rising inflation. NUS+RE collectively represents the Department of Real Estate and IREUS.

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