Prices of landed homes to remain ‘firm’ for the rest of 2022

In Q2 2022, prices of landed homes rose by 2.9% QoQ.

Asking prices of landed homes will likely remain “firm” for the rest of the year, according to property expert, PropNex. In Q2 2022, prices of landed homes rose by 2.9%.

PropNex said the prices would stay on their current trajectory amidst steady demand and limited stock. Good Class Bungalows (GCBs), in particular, are in "extremely limited" supply.

“The buying interest in GCBs remains keen, likely outstripping the supply of properties listed for sale on the market,” PropNex said.

Meanwhile, demand for landed homes will also stay elevated given that buyers are looking into “defensive assets to park their funds in,” according to the property expert.

“With inflation climbing higher, residential properties could also be a hedge against inflation risks, as their values tend to appreciate over a period of time,” PropNex said.

“Singapore real estate is likely to be a significant beneficiary of the safe-haven capital flows amid the pandemic-lockdowns in China as well as uncertainties around global growth due to the rapid inflation and sharper interest rate hikes in many advanced economies, on the back of the Ukraine-Russia war,” PropNex added.