There is alot of pent up demand on both the HDB and private sector after coming out of a cooler property market till Q3 2024 so far. Developers are also timing their launches of new projects to coincide with lower interest rates. These are all LEADING indicators that the property prices will eventually rise in 2025.

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Government are introducing lots of housing supply through BTO and GLS, but the net supply will not be too far off from 2022 to 2023 period as that period have large enbloc supplies going to TOP.

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Given that the demand remain strong and supply will not sharply increase in the next year, prices should still continue to see an upward trend.

Sadly, I think the prices unlikely to drop.

Supply has caught up. Technology will reduce labour cost, and speed up production. White flats also means less surface to paint. CCA also encourages more resale unit to be available. Aging population will increase death toll, which will lead to increase supply of resale units for rent and purchase. Land is timely being recycled, hence not a serious factor; it can be created somehow. LTV is lower than before. RTS going to be up, autogate is up for anyone above 110cm on foot, crossing border will soon be a breeze to cheaper property options. Property price inflation is probably psychological. Longer MOP in BTO also means reduce transaction in coming years. While lowering interest rate is probably the one that will increase borrowing options, there seems to be more factors pointing towards lowering cost of property price to pre COVID times.

Lower interest - more buyers

More buyers - higher