Landed Home Prices Dip 0.9% Year-on-Year

Anagram Homes at Kheam Hock Road

Singapore Private Home Prices Rise 2.3% in Q4 2024, Full-Year Growth at 3.9%

Singapore private home prices increased by 2.3% quarter-on-quarter (q-o-q) in Q4 2024, rebounding from a 0.7% decline in Q3 2024. This brought the full-year price growth to 3.9%, a slowdown from previous years. The non-landed segment drove the growth, with prices rising 3.0% q-o-q, led by strong performances in the city fringe (RCR) and suburban areas (OCR). A record seven new launches in Q4 2024, including Chuan Park and Meyer Blue, contributed to robust sales, with developers selling 3,420 new homes—the highest quarterly sales since Q3 2021.

Landed Home Prices Dip 0.9% Year-on-Year

In contrast, landed home prices fell for the second consecutive quarter, declining 0.1% q-o-q in Q4 2024 after a 3.4% drop in Q3 2024. For the full year, landed home prices saw a modest 0.9% increase, the slowest annual growth in seven years. Transaction volume for landed homes in 2024 rose 29.9% year-on-year to 1,671 units, up from 1,286 units in 2023.

Analysts noted that rising non-landed home prices have encouraged more buyers to enter the landed property segment. However, the moderation in landed home prices can be attributed to muted transactions, limited new supply, and elevated interest rates. However, with Anagram Homes in the market, this might spark more interest than ever as it is a quality FREEHOLD landed property offering.

Market Outlook for 2025

Looking ahead, PropNex forecasts overall private home prices to rise by 3% to 4% in 2025, supported by a pipeline of new launches and sustained demand. ERA projects price growth of 3% to 5% year-on-year, with new home sales expected to reach 7,000 to 8,000 units.

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