Summary
The property market experiences less activity from December to February, largely due to the December holidays and Chinese New Year.
The property market also experiences peak activity from March to July, as well as September to October.
Peak and non-peak periods affect pricing and response time in the resale market.
Article
There are slower periods and more active periods from January to December.
The inactive periods include December to February. After the December Holidays, Chinese New Year, lengthy house visitations and even Valentine's Day result in an extended period of inactivity in the property market. The property market revives from March till July. In August, the Chinese Ghost Festival has a slight dampening effect on the property market, although this effect is becoming less pronounced over the years. Some older sellers choose to stop marketing their property during this period. Similar to how the market revives in March and April, the market experiences more activity from September to October. From November onwards, transaction activity will already start to slow down.
The best time to sell property is from March to July, as well as September to October. When a customer wants to sell a place, they may get better pricing and more viewing during these peak periods. Also, during non-peak periods, many property agents may take their families on holiday.
For new launches, pricing may not change much. For the resale market, these peak and non-peak periods will affect your pricing. Knowing these periods will help you know when to expect a slower response and plan your property decisions accordingly.