A new year draws new trends and innovations that can potentially improve the property market for home buyers or sellers alike. Read on to find out what are some of things you can look forward to in 2018!
More BTOs in 2018
The Minister for National Development, Lawrence Wong has announced that the Housing and Development Board (HDB) will be releasing about 17,000 new flats in 2018. This is close to the 17,584 units that were released in 2017. He added that there will be “a good spread of projects across mature and non-mature estates, including flats in the new Tengah town” and “about 1,000 flats in Sembawang, Sengkang and Yishun” which are planned to be launched in the second half of 2018.
New online portals to shake up the market
Newly-formed property portals such as Soho and Showsuite aim to provide convenient online outlets to view and list properties. Established platforms such as PropertyGuru and 99.co have already proven to be the go-to outlets for property buyers and sellers. tWith these giants having a hold of the market, these new portals will need to find the cutting edge to find their place in the current competitive market.
More people using Home Staging before selling their unit
Home Staging may be a relatively foreign concept in Singapore’s property market. However, it has proved many times to be effective in helping home sellers and property agents in selling the properties they have on hand. A statistics study on Singapore Furniture Rental’s home staging cases showed that 70% of units staged by their home staging specialists were sold in the first month. There has been multiple cases where properties were marketed on online and offline platforms for months but simply could not get a suitable offer. Enter home staging. Some properties left on the market for months were sold within weeks or less.
>>Had a property on the market for weeks? Try Home Staging here.
More property agents using video marketing
Property videos are one of the upcoming trends property agents will want to jump on the bandwagon for. Did you know? In 2017, videos make up only 3% of the content on Facebook and yet earn the highest engagement rate on the social media platform. With videos being the way to go for Facebook consumers, having your own property video could prove to go a long way in establishing a property agent’s branding in the property market.
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