CBRE: Less Supply Expected for 2022 Residential Market; Buyer Behaviour Shifts

• 24 January 2022
• Local News
• 1685 Views

In 2022, the residential market will see fewer new launches, while promotions and offers will continue to occur as a mechanism for the market to absorb oversupplied units stemming from the sharp drop of foreign investors, according to the recent CBRE yearly forecast report.

In the meantime, local home buyers will also change their value proposition toward better quality and more creative products, the report added.

In 2022, developers will consider shifting away from the growing competition in the mid-range segment and focus on the delivery of better-quality units to meet the buyers’ expectations.

Due to limited quality supply coupled with higher expectations, customers are also looking for creative projects and unique differentiation.

According to the report, in 2021, four condo projects (over 1,000 units) and 62 boreys (over 20,000 units) were launched. Meanwhile, in 2022, over new 50,000 borey units are expected and at least 13,000 new condo units.