Landed home sales hit record high of $8.9 bil in 2021: Knight Frank

EdgeProp Singapore

January 27, 2022

SINGAPORE (EDGEPROP) - According to a research report by Knight Frank, $4.3 billion worth of landed homes were transacted in 2H2021 with 421 units changing hands, representing a 6.2% decline in total sales value on a half-yearly basis.

Nonetheless, this brings the total value of landed home transactions in 2021 to $8.9 billion, marking an all-time high.

Based on flash estimates released by URA, the Property Price Index (PPI) for landed homes expanded by 3.7% q-o-q in 4Q2021, bringing the total price index change for the whole year to a robust 13.1%.

Knight Frank notes that despite increased additional buyer’s stamp duty (ABSD) rates effective from Dec 16, 2021, the impact on the landed market is likely to be marginal.

“The stock of landed houses has remained stable and relatively unchanged for more than 25 years – accounting for just 19.3% of the whole private residential market today based on URA’s 3Q2021 data – a scarce residential asset class in high-rise Singapore. These homes are considered a secure source of investment,” the report reads.

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