Just three years ago, few would believe that S$2000 psf for private homes in RCR (Rest of Central Region) and OCR (Outside Central Region) is a possible price point. Yet, that psychological barrier has been broken in 2023 with most of the new launches in these regions hitting S$2000 psf and above. This comes at the tail end of rapid growth in home prices in the past few years. In 2021, private home prices rose 10.6%. In 2022, private home prices rose 8.4%. It's expected that we might be looking at 7% in 2023. While we are seeing signs of prices stabilising in Q2 and Q3 of 2023 this year, I personally believe that 2024 will be a true test for the Singapore Property Market with several key trends. First, the number of MOPed flats continues to drop in 2024. This represents an even smaller pool of potential HDB upgraders in 2024 compared to 2023. (Source: https://www.statista.com/statistics/1035889/singapore-total-number-bto-flats-reaching-mop/) Based on 2024 projection of new launches,...