“Resale, New Launch, or Sit Tight? Navigating Singapore Property in Uncertain Times”
As talk of trade wars and a looming global recession escalates, many prospective buyers and investors are starting to wonder:
“Will Singapore’s property prices crash? Is resale a better deal than buying new? Is it time to enter or wait?”
It’s a fair question—and one that deserves an informed, not fearful, answer. Let’s unpack what’s really happening beneath the headlines and where the smart opportunities lie.
Singapore’s Real Estate Is Built for Tough Times
History offers powerful lessons. Since 1995, Singapore has weathered multiple economic crises—each different in scale and cause—but one trend remains consistent: property always bounces back.
| Crisis | Duration | Price Drop | Recovery |
|---|---|---|---|
| 🇹🇭 Asian Financial Crisis (1997–1999) | 2.5 years | -44.9% | +40.4% |
| 💻 Dot Com + SARS (2000–2004) | 4 years | -19.6% | +57% |
| 🏦 Subprime (2008–2009) | 1 year | -24.9% | +62.2% |
| 🏛️ TDSR (2013–2017) | 4 years | -10.3% | +51% |
| 🦠 COVID-19 | — | No negative impact | Surge in demand & prices |
The takeaway? Even during deeper recessions, downturns have been short-lived. And importantly, each recovery came back stronger than before.
Why Prices Aren’t Likely to Crash This Time
Several key regulations act as shock absorbers in today’s market:
SSD (3-Year Minimum Holding): Discourages short-term speculation; most owners aren’t in a rush to sell.
TDSR (55%): Ensures buyers aren’t overleveraged, with 45% income buffer to ride out uncertainty.
ABSD & LTV Rules: Deter speculative activity—especially from foreign buyers who may otherwise “dump and run.”
Developer Timeline: Most developers are only in Year 2 of a 5-year launch window, with earlier land bought at lower prices. They have room and patience.
With almost zero speculation left in the market, fire sales are rare. At most, you may see occasional individual discounts, but not market-wide panic.
Resale vs New Launch: What to Expect
🔹 New Launch Segment
Developers still have 3–4 years to move units and are not under immediate pressure.
While most won’t slash prices drastically, some older launches may offer attractive discounts on last units (e.g. Cuscaden Reserve, Bartley Vue).
Pricing likely to stay stable in newer launches due to fixed land and construction costs.
🔹 Resale Segment
Strong home-stay demand continues to drive activity.
We may see softening of about 1–4%, especially from owners keen to cash out and re-enter later.
Gap between seller expectations and buyer offers may temporarily widen (around 5–6%), but likely to converge as buyer needs drive demand.
In essence, resale prices may dip slightly—but not meaningfully enough to wait indefinitely on the sidelines.
Short-Term Outlook: A Muted Market with Pockets of Action
During this 90-day pause in the trade conflict, the market is likely to flatline in terms of pricing, but viewing activity and interest will still be present.
If no major escalations occur after this period, market confidence is expected to bounce back quickly—just like it did post-COVID and past crises.
Advice for Investors: Where Opportunities May Lie
For those watching the market closely, opportunities do exist—but you need to know where to look:
🏢 Retail & Commercial Properties
These segments are more sensitive to trade disruptions and business activity.
With fewer layers of regulation, distressed sales or good-value buys may appear sooner here.
🏗️ New Launch Developments
Developers may offer attractive early-phase pricing to maintain momentum.
If you spot a project with solid fundamentals and competitive pricing—it could be a great entry point.
Historically, pent-up demand builds during market lulls, often leading to a sharp rebound once sentiment turns. First-movers tend to benefit the most from this uptick.
Pro Tip: Use this phase to research and shortlist options. Be ready to act quickly when the opportunity arises.
So, Should You Buy Now or Wait?
There’s no one-size-fits-all answer, but here’s the summary:
✅ Buyers for Own Stay: If you’ve found a place that fits your needs and budget, a 2–3% price drop isn’t worth the risk of missing out.
✅ Investors: Stay sharp on retail/commercial assets and early-stage new launches with pricing advantages.
✅ General Market: Expect a short pause, but no prolonged downturn—barring a dramatic global shock.
Final Thoughts: Resilience Is in Our Design
Singapore’s property market is often described as expensive, but beneath the price tags lies a system designed for long-term stability.
While global headlines may scream panic, our market fundamentals—policy safeguards, buyer discipline, and prudent development timelines—help to blunt the impact of any downturn.
In the end, fortune still favours the informed and prepared. Stay alert. Stay smart. And know that in every cycle, value lies in clarity, not chaos.