The “Cool” Storm Hits on 30th September—Good Timing?
Ever wonder why the latest cooling plan arrived exactly when the market hit a new high‑water mark? After the latest data dropped, the government slipped in a blanket of regulation on 30 September—and could it be that the timing was seriously spot‑on?
September 2022: The Million‑Dollar Flat Frenzy
Picture this: “M‑in‑flat‑s” all over a month‑long, a record haul of million‑dollar listings that made the whole housing scene feel like a high‑stakes auction.
- The monthly sales count just sky‑rocked, setting a new ceiling for the number of million‑dollar flats sold.
- Despite the inflation‑driven price climb, December’s cooling attempt was just a glimmer in the wind, barely nudging the market.
- Now, the spotlight is glaring on 4‑room and smaller units. Why? Because the big houses are feeling the elephant‑tipping effect of the latest policy wave.
What’s the Real Deal?
In plain speak: the policy did not resize heaps of luxury properties as planned. Instead, it got people talking about the under‑2‑room crowd—the ones who get to put their money where it’s needed and still live comfortably.
Making It Fun & Light
- “If your budget screams ‘No way!’ when you see those million‑dollar numbers, let’s hold on to that feeling—no sudden panic!”
- “Hang on, because the smaller flats look less like a prison and more like cozy hideouts!”
- “Reduced commission or a big drop? No, nothing happened, but hey! The holiday market can still be a fun adventure for the folks who wish to carve out a new niche.”
Bottom Line
Monitoring the policy impact, the October market hesitates at the 4‑room price war. But the “cool‑down” approach’s low‑impact indicates that change is no guaranteed cure—yet—the market still looks so full of opportunity. Stay tuned, keep your eyes on the small‑flat game, and keep your sense of humor (it’s the best policy you’ll ever have!).
A record month for million-dollar flats
A March of Megabucks: September Sets a New Milestone
The last time anyone woke up from a holiday to see such numbers was December 2021, when only 36 units smashed that landmark.
Why the Numbers Matter
From 36 to 45: The Stretch
When we flipped the calendar from December 2021 to September 2022, something changed:
The Takeaway: A record‑breaking 45 units aren’t a fluke. They’re a mark of a market that’s confident, competitive, and chasing that sweet spot between scarcity and appeal.Bottom line: If you’re considering a resale buy, this trend signals that the high‑end side is nothing but hot‑pot—though keep in mind that a 45‑unit surge can also mean more intense competition.
Quick Recap
— End of report —
VIP Flats and Lofty Prices in Punggol Sapphire
In September, 17 executive flats and maisonettes popped onto the market, with the star of the show a 5‑room flat at Natura Loft (DBSS) that pulled in a whopping $1.3 million. That single sale accounts for roughly 1.7 % of all transactions in the month.
The Punggol Sapphire Loft Showstopper
Now, the real headline hit the headlines: a 5‑room loft flat at Punggol Sapphire (DBSS) sold for $1.19 million. That price is the highest ever recorded for a flat in a non‑mature area – a true milestone.
- A loft unit, by design, boasts a taller floor‑to‑ceiling height, creating an airy, breezy vibe.
- Only 23 such lofts exist in Punggol Sapphire, making this one pretty exclusive.
- A confidential source whispered that the buyer paid about $200 k in “Cash Over Valuation” (COV). Since COV isn’t covered by a loan, the 800‑k buyer had to come up with that extra cash.
- The current inventory still lists two lofts at Punggol Sapphire, each priced at $1.2 million. The market is still buzzing!
Overall, resale flat prices continued to increase
Singapore’s Resale Housings: A 27‑Month Steady‑Climb
Hey, did you hear the latest buzz? Property prices are still on the rise! According to SRX’s flash data, resale flat prices jumped about 1.7% in August. Yep, that’s the 27th consecutive month where the graph moves upward. On a yearly basis, that’s a whopping 11.1% increase—so someone’s really getting richer (or when the market just keeps getting richer).
Room‑by‑Room Rundown
- 5‑room flats – the biggest mover, up roughly 2%. These are the “proof you can afford a tiny apartment” kind of places.
- Executive flats – not far behind, climbing 1.9%. Think of them as the neighborhood’s upscale apartments.
- 4‑room flats – mild growth, under 1%.
- 3‑room flats – the smallest percentage gains, also below 1%.
The market’s not just holding steady—it’s getting more valuable, especially for those looking to upgrade or invest. If you’ve been waiting on a price dip, maybe it’s time to rethink your strategy—those 5‑room houses have the strongest upward momentum. And for the rest of us, the steady climb means: buy now, or watch your pocket grow a little later!
Home‑Cash‑out Frenzy: What Realtors Are Saying
When you spot a surge in house prices, you might think the market is a buying frenzy, but realtors are calling it a cash-out buzz—late‑stage homeowners policing the peaks.
Why the Big‑Cash Sellers Matter
- They’ve sold their private homes at what they think is the top of the market.
- With piles of cash in hand, they’re ready to scoop up the best resale units.
- Even wild coverage‑ratio (COV) limits don’t scare them; they can get a lot of premium.
Dec 2021 Cooling Rules Aren’t A Game‑Changer
Those who already sold at the peak aren’t feeling the pinch from the tighter loan limits. The December cool‑down measures barely loosen fingers on these big‑cash folks.
Still, A Fresh Twist on Their Plans
After selling, some shoppers could pad up a flat entirely “cash‑in‑hand” if they’re so inclined—no bank drama needed.
September’s New Rules: A 15‑Month “Hold‑On” Pay‑Downtime
Realtors suspect that these fresh restrictions will trim the COV rates down in the short run. The new 15‑month wait‑out period forces buyers to play the patience game before gearing up for resale flats.
Bottom line: The market’s uptick mainly signals an explosion of high‑cash sellers camping at the peak, and the latest cooling will see those buyers tacked up for a while—hoping the price graphs stay friendly.
Recent attention, however, is on 4-room and smaller flats
How the 15‑Month Wait‑Out Plays Out for Singapore’s Older Buyers
Quick snapshot
- Age factor: Those 55 and over get a golden pass—no need to wait the 15 months to buy a 4‑room or smaller flat.
- Room size: This rule only covers 4‑room or smaller homes; larger units still face the wait.
- Market chatter: Realtors and market watchers are putting their heads together, weighing the impact.
The Hot Topic for Real Estate Buzzworthy
Realtors are raising a flag because the “no‑wait” perk might send a wave of buyers straight into the smaller flats. They’re worried that:
- Demand shift: The squeeze could push suddenly up the buying pressure on 4‑room or smaller units.
- Price climb: When demand swells like a rubber band, prices are bound to stretch—potentially fast enough to make a calculator sweat.
Bottom Line
Essentially, the 15‑month rule is a friendly exemption for older folks, but the real estate community is bracing for a ripple that could ripple through the smaller market, turning a cozy neighborhood into a pricier playground.
Singapore’s 4‑Room Market: Where Prices Take Off & Buyers Get Confused
In the heart of Queenstown, Ang Mo Kio and Bukit Merah, four‑room flats are suddenly worth a half‑million dollars or more. Snapshots of these eye‑popping prices were actually shared in a previous post, so you already know where the action is.
What an Agent Says About the 55‑Plus Crowd
Fresh from a chat with a savvy realtor, here’s the lowdown:
- People in their 50s and 60s are likely empty‑nesters. Their grown‑up kids have already packed up, so they don’t feel the squeeze that younger families do.
- For them, moving into a four‑room (or even a three‑room) is a relatively easy transition.
- We must, however, keep the new‑generation buyers in mind – they’re the real “home seekers.”
- Currently, first‑time buyers can only afford four‑room or three‑room flats. Anything larger steps out of their bite‑size budget.
- When those older buyers, who once owned condos or landed homes, start eyeing smaller spaces, price tags will climb to the million‑dollar mark.
Why the Market’s Getting a Tweak
The Housing & Development Board (HDB) has flagged the trend, keeping a close eye on four‑room and smaller flats.
The older crowd isn’t so keen on the five‑room model either. Many want:
- More space for a burgeoning grandchild schedule.
- Room for nieces, nephews, or even cousins who might move in as they age.
That’s why resale Executive Condominiums are starting to look appealing – they’re like the “big cousins” of the flat market.
Rental Realities and the Foreign Labour Shuffle
With the 15‑month waiting period” finally finished and foreign labour coming back, landlords are perked up. Here’s what the numbers say:
- Rentals have already gone up in 2022 – and that trend isn’t slowing down anytime soon.
- Some landlords tout the rise in interest rates as a reason to hike rents, but let’s be honest – it’s in the pocket of the landlords.
Bottom Line
So, if you’re eyeing a home or planning to rent out, be ready for:
- High price tags for four‑room flats in hotspots.
- First‑time buyers chasing the 4‑room sweet spot.
- A market that might soon see the 1‑million‑dollar club open for old‑timers swapping landed properties for smaller units.
- Rising rents riding on interest rates and returning workers.
That’s the scoop from Stackedhomes – where we keep you ahead of the market curve.
