How Can Home Buyers Benefit from a Boosted Resale Market in 2024?

Some 19,000 homes have achieved Temporary Occupancy Permit (T.O.P) status in 2023. This is the highest supply of completed homes since 2016. Another 10,000 homes are slated to complete in 2024. 

The influx of new home completions and higher new home prices may see some buyers returning to the resale market. 

This could see resale prices rise by 4% to 6% in 2024. 

Some 14,000 homes, across 18 projects have already achieved T.O.P status in the first nine months of 2023.

2024 may see returning interest in the resale market that could drive resale (including subsale) transactions to between 13,000 and 14,000.