Private home prices flatten further, edging up 1.1% in Q2

Overall sales volume hits 4,215 units in the quarter, down slightly from 4,230 units in Q1

Jul 1, 2024

PRICES of private homes in Singapore saw a smaller increase of 1.1 per cent in the second quarter of 2024, as the price index inched up amid low sales volume in recent months, according to flash estimates from the Urban Redevelopment Authority (URA) released on Monday (Jul 1).

Private home prices had risen 1.4 per cent in the first quarter. The quarterly average price increase of 1.3 per cent in the first half of 2024 was lower than the quarterly average price increase of 1.7 per cent in the year-ago period in 2023 and 2.1 per cent in 2022, said URA.

In the prime Core Central Region, where sales have been hit hardest by market cooling measures, prices of non-landed homes slipped 0.2 per cent, after a 3.4 per cent gain in the first quarter.

Islandwide, non-landed homes saw a 0.9 per cent increase in prices, moderating from the 1 per cent increase in the previous quarter.

Prices of non-landed homes in the suburban Outside Central Region showed a 0.3 per cent gain in Q2, after climbing 0.2 per cent in Q1.

Meanwhile, non-landed prices in the city-fringe or Rest of Central Region climbed by 2.2 per cent, improving from a 0.3 per cent growth in the preceding three months.

Landed home prices also continued to rise, gaining 1.8 per cent in Q2 after a 2.6 per cent increase in Q1.

Overall sales volume hit 4,215 units in Q2, down slightly from 4,230 units registered for Q1. The figure comprises new sales, resales and sub sales, and excludes executive condo units.

https://www.businesstimes.com.sg/pro...-edging-1-1-q2