According to MSCI, commercial property sales in the Asia-Pacific region dropped by a staggering 40% year-on-year in the second quarter of 2023. This sharp decline is likely a result of the ongoing pandemic and its impact on the global economy. The figures highlight the challenges faced by the commercial real estate market in the region and indicate a period of uncertainty ahead.
The Housing and Development Board (HDB) has announced its plans to launch more than 9,500 Build-To-Order (BTO) flats in November. This comes as new private home sales dipped by a staggering 68.4% in October. The decline has raised concerns about the stability of the housing market, while simultaneously highlighting the growing demand for affordable public housing options.