“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” These words by late American motivational speaker William Arthur Ward speak to the current mood of the property market and its outlook for 2023. Some of the key trends we will see this year are those that have morphed out of behavioural changes the last two years—where buyers, sellers and markets alike have had to adjust their sails in order to move forward.
The year 2022 witnessed viral variants, interest rate corrections, labour shortages, the ongoing war in Ukraine as well as rising raw material prices, among other factors, that are triggering inflation hikes and an increased cost of living. This general sense of unease directly affects the Singapore property market, says Julian Yip, managing director at Real star Premier Group. “We have seen a slowdown in the number of transactions since the second half of 2022. This will likely continue till the first half of 2023, but will gradually pick up thereafter due to pent-up demand,” says Yip.
Bu hikaye Tatler Homes Singapore dergisinin February - March 2023 sayısından alınmıştır.
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Bu hikaye Tatler Homes Singapore dergisinin February - March 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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