We have been living in a “new normal” for a while now, and while some of us are getting accustomed to it, some of us are wishing extra hard for things to go back to the days before COVID-19 plagued the globe.
With travel lanes and borders opening up, there seems to be a little glimmer of hope somewhere at the end of the tunnel. So, how do you think this would have impacted your property seekers?
When to Focus Your Listing
Property seekers’ traffic took a switch in the month of October with most of the weekdays taking a relatively slow pace, but then peaks upwards from Friday to Sunday.
While the behaviour on the days of the week might’ve changed, the times of the day remains the same. We see an upward trend from 8AM that remains relatively strong till 11PM.
Where to Focus Your Listings
When we zoom into commercial listings, City & South West D01-08 and Balestier/Geylang D12-14 still continue to hold strong demand in the market. However, it seems interest in other districts have tapered down a bit – which might indicate offices are looking forward to reopening their premises soon.
However, looking at the market gap, Serangoon/Thomson D19-20 and East Coast D15-16 seem to be areas that need more listings to meet market demand.
For residential listings, Serangoon/Thomson D19-20 are a popular choice amongst homebuyers – with an increasing interest in City & South West D01-08. (D19-20 seems to be a great area to focus your listings on for both residential and commercial listings.)
The market gap for Serangoon/Thomson (D19-20) remains substantial, but the one that takes top prize is West D22-24 with North (D25-28) following closely behind.
So, let’s take a closer look at those parts of Singapore through Market Insider on AgentNet.
If we look at condos for sale in those parts of Singapore, it looks looks to be going at a median PSF of under S$1K and the top project is the classic condominium just 3 minutes from Chinese Garden MRT – Parc Oasis.
If we were to explore the HDB towns of the same parts of Singapore, we can see a significantly lower median PSF, with over 10x the quantity of transactions. This isn’t surprising, as there’s plenty of movement around Punggol.
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We hope you’ve found this piece useful and look forward to updating you again next month! Till then, continue to stay safe.
Being a better partner for you,