Private Residential Property Q2 2021<\/strong>
Overview<\/em><\/span>
The private residential market remained
resilient in Q2 2021 despite the tightening of
pandemic measures in May and June 2021.
While the restrictions have had some impact
on property viewings and the launch of new
projects for sale during the quarter, transaction
volumes and prices stayed relatively healthy
in the quarter.
Market observations suggest that buyers\u2019
confidence remains generally intact, buoyed
by the economic recovery and the more
positive outlook for the Singapore economy.
Looking ahead, home sales across all segments
\u2013 private new home sales, private resale, and
HDB resale \u2013 will likely outperform 2020\u2019s
volumes.<\/p>

Private Residential Market Outlook<\/strong>
As Singapore re-enters P2HA from 22 July to
18 August, it may pose some uncertainty for
developers in terms of launch activities over the
next quarter, but this should not impact demand or
prices significantly
PropNex expects private home values to
climb by 6% to 7% in 2021. The healthy demand for
homes as well as the diminishing unsold stock will
help support home prices. As of Q2 2021, there are
19,834 unsold units (ex. ECs)
Barring any new cooling measures, PropNex
projects between 11,000 and 12,000 new private
homes and more than 16,000 resale units to be
transacted in the full-year 2021<\/p>

HDB Resale Q2 2021<\/strong>
Overview<\/span><\/em>
HDB resale prices continued to climb in Q2 2021.
The more positive economic outlook, delays in
the completion of new Build-to-Order flats, and
generous housing grants for first-time buyers
purchasing resale flats are all factors that have
contributed to the resale price growth.
In Q2 2021, there was a dip in resale transactions
from the previous quarter. The decline in sales
volume was not unexpected as the P2HA period
in the quarter likely restricted home viewings.
Nevertheless, the resale volume achieved in Q2
2021 is still impressive, coming in higher than
many pre-pandemic quarterly sales numbers<\/p>

HDB Resale Market Outlook<\/strong>
With the re-introduction of P2HA from 22 July to
18 August, HDB resale volume for Q3 2021 is likely to
remain stable at the level seen in Q2 2021. For the
first half of 2021, 14,644 resale flats were sold and
overall resale prices have climbed by 6%. PropNex
expects that resale volume could exceed 26,000
flats and that resale prices are likely to increase by
10% to 11% for the whole of 2021.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t