How Can Homebuyers Benefit from the 2024 Resale Market Boom?

Approximately 19,000 homes are slated to obtain their Temporary Occupation Permit (TOP) in 2023, marking the highest annual completion supply since 2016. Another 10,000 homes are projected to be completed in 2024.

The influx of newly completed homes alongside elevated new launch prices could prompt some buyers to pivot back to the resale market, potentially driving resale prices up by 4% to 6% in 2024.

In the first nine months of 2023, approximately 14,000 residential units across 18 projects were completed.

Interest in the resale property market could see a resurgence in 2024, potentially lifting resale transaction volumes to between 13,000 and 14,000 units.

Disclaimer

This information is provided in good faith and does not relieve any party of their responsibility to verify details with relevant sources and/or seek appropriate advice from relevant professionals, such as valuers, financial advisers, bankers, and legal counsel.

For the avoidance of doubt, no liability or responsibility is assumed for the accuracy, reliability, and/or completeness of the information provided above.