[SINGAPORE] Generally, private homes here are seen as good long-term investments. Key drivers of capital appreciation include Singapore’s ability to transform its economy, steady increase in housing supply, policies that support a stable market, good urban planning, constant public infrastructure upgrading, the city’s attractiveness to the wealthy and political stability.

Moreover, many people aspire to own private homes here and the desire for high-quality abodes is seen to remain intact regardless of technological changes that could disrupt other property asset types.

Still, while the long-term outlook for private homes is positive, the US hiking trade tariffs and the US-China trade war can hurt the new condo market.

Private new home sales were robust in the fourth quarter of 2024 and the first quarter of 2025, helped by strong sales at major new condo launches.

Parktown Residence in Tampines sold over 87 per cent of its 1,193 homes at its launch weekend in February. At its launch in November 2024, Emerald of Katong saw a take-up rate of about 99 per cent for its 846 units.

However, take-up rates were more moderate at condo launches in April, post the US imposing sweeping tariffs on Apr 2. During the launch weekend, One Marina Gardens sold 38 per cent of its 937 units, and Bloomsbury Residences in Media Circle sold 25 per cent of its 358 homes.

Many new condo buyers are locals buying for owner occupation, who own an Housing and Development Board (HDB) home. Might HDB homeowners pause condo upgrading plans should economic uncertainties caused by trade tensions heighten worries over job security and dampen pay ...