SINGAPORE: Singapore’s suburban property market is set to take the spotlight this year, with more than half of new condominium launches expected in the Outside Central Region.
Market estimates put the jump at around 20 percentage points from a year ago, reflecting a growing shift among both developers and buyers towards suburban areas beyond the traditional core.
Analysts say this is driven by changing buyer preferences, with greater emphasis on connectivity, amenities and future growth, as well as developers pivoting towards areas with stronger local demand.
BUYERS NO LONGER “FIXATED” ON CENTRAL ADDRESSES
Singapore’s private housing market is typically divided into three regions:
- The Core Central Region, which covers prime districts such as Orchard and Bukit Timah
- The Rest of Central Region, or city-fringe areas such as Tiong Bahru and Queenstown
- The Outside Central Region, which includes suburban towns such as Tengah and Loyang
Tengah’s first private condominium – Tengah Garden Residences – saw strong sales at launch last weekend, while the en bloc sale of Loyang Valley in Pasir Ris earlier this month also drew attention to suburban locations.
Analysts say the shift reflects how buyers define location, with convenience no longer tied only to central areas.
“In the past, we can see buyers being fixated on a particular district or even on a particular address that they see as being different from other areas in Singapore,” said Mr Lee Sze Teck, senior director of data analytics at Huttons Asia.
“But in recent years, we have seen buyers being more concerned about the location attributes … the transportation network, the amenities like shopping malls or even primary schools.”
