by OrangeTee & Tie Pte Ltd.

Private home sales slowed in first half of 2022 as cooling measures tamped down demand

SRX Private Residential Data

Singapore, 14 Sep 2022

The number of private property transactions in the first six months of this year has slowed after cooling measures were introduced in December last year. 

A total of 13,311 units were sold between January and June this year, which is about one-third that of the 37,433 units sold in the whole of last year. 

However, the half-year figure for 2022 is still higher than half of the 22,543 units sold in 2020, and the 19,442 units sold in 2019 before the Covid-19 pandemic.

The rising prices of private homes islandwide, coupled with interest rate hikes, may have deterred some potential buyers as well, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun.

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