2025-02-10-莱坊-Singapore_Prime_Non-Landed_Landed_Residential_Update_H2_2024_2页_626kb

Singapore Real Estate Market Summary (2024)

Landed Home Sales Performance

• Transaction Volume: 331 landed homes sold in H2 2024, an increase from 313 in H1 2024.
• Sales Value: Approximately S$3.0 billion in H2 2024, with a total of S$6.1 billion for 2024 (+18.6% vs. 2023).
• Average Unit Price: Increased 1.0% to S$1,971 psf (up S$15 sq ft).
• GCB Sales: 14 GCBs sold in H2 2024, valued at S$618.5 million (+45% year-on-year), with some transactions in prime areas like Belmont Park.

Prime Non-Landed Properties

• Sales Volume: 80 prime non-landed transactions in H2 2024, a 27.1% drop from H1 2024.
• Annual Volatility: Total transactions in 2024 hit a 15-year low (184 units), with S$1.4 billion in value (-22.1% from 2023).
• Price Trends: Prices fell to S$2,237 psf in H2 2024, with significant buyer caution due to cooling measures (ABSD, taxes).

Market Influencing Factors

• Cooling Measures: ABSDs and higher taxes have suppressed foreign demand, while global wealth mobility may see some easing in constraints but a return to stability-focused investments.
• Inventory & Supply: Limited inventories, especially in luxury, support demand but slow transaction momentum.
• Buyer Behavior: Affluent locals drive primary demand; high holding costs and economic headwinds keep investors cautious.

Exhibits Overview

• Exhibit 2: Top prime non-landed sales (e.g., 318 Gilstead at S$3,505 psf).
• Exhibit 3,4: Landed performance charts and top luxury transactions (e.g., N.A. in Belmont sold at ~$3,000 psf).

Outlook for 2025

• Prices are expected to moderately rise (~1-2%) but remain below 2021 peaks.
• Landed homes (especially GCBs) offer resilience for high-end investors.

Note: This summary focuses on key market data points and trends based on the provided text.