According to a market outlook report by OrangeTee & Tie (OTT), the private residential resale market will likely experience constrained supply, while at the same time, robust demand for resale units is likely to continue to prop up prices.
“The unsold private housing inventory has dipped to an almost four-year low. The number of new project launches is expected to slide in 2022 as the land supply from the Government Land Sales (GLS) Programme was moderated over the past two years to keep pace with the uncertain economic outlook,” says Christine Sun, senior vice-president of research & analytics at OrangeTee & Tie.
She expects private resale home prices may climb by 6%–9% in 2022, following an increase of about 6%–7% this year.
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