Edgeprop Singapore%E2%80%99S First Property Market Outlook Event 2025 Draws Strong Crowd Elta
The EdgeProp Singapore Property Market Outlook event on Sunday, Feb 16, saw a panel of industry experts discussing the potential impact of new property cooling measures, incoming housing supply, and Budget 2025 announcements on the real estate market. The panel comprised of Alan Cheong from Savills Singapore, Wong Xian Yang from Cushman & Wakefield, and Song Seng Wun from CGS International. The event, moderated by EdgeProp Singapore CEO Bernard Tong, was held at the Elta sales gallery, a new 501-unit project by MCL Land and CSC Land Group.
During the event, the panel discussed the recent indication from the government that it is open to implementing more property cooling measures. The panelists speculated that if new measures are introduced, they may target the HDB resale market as it forms the “floor” of the housing market in Singapore. This could also have a knock-on effect on private housing prices.
In response to questions from the audience about the “euphoric” state of the residential market, the panelists noted that developers are likely to strategically time the launch of new projects, taking into account the demand that has built up in certain neighbourhoods that have not seen a new project in several years. However, they also acknowledged that the recent success of new launches this year indicate strong buyer confidence.
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On the topic of Budget 2025, the panelists discussed potential measures that could impact the property market, such as government handouts funded by government surpluses and the injection of a strong pipeline of GLS and BTO supply into the market to meet housing demand.
During the Master Plan Master Class session, EdgeProp Singapore CEO Bernard Tong highlighted upcoming transformation plans in Clementi and Jurong East, including the completion of the second phase of the Cross Island Line and the redevelopment of Clementi Stadium. Tong also noted that MRT interchanges tend to have a positive impact on surrounding property prices.
Overall, the panelists noted that the market is likely to see a moderation of rental price growth this year due to layoffs in certain industries, but that projects in upcoming transformation areas such as Clementi and Jurong East could reap strong capital gains in the future.