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Did the resale private market go up or down in November 2024?
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As of the third quarter of 2024, the resale private market in Singapore has shown stability rather than a significant decline or rise. Here are the key points:
- Resale transactions accounted for 71.9% of all sale transactions in the third quarter of 2024, indicating continued activity in the secondary market.
- While overall private housing prices declined by 0.7% in the third quarter of 2024, resale prices specifically held steady. For example, average resale prices in the Core Central Region (CCR) even recorded a 1.6% increase from the second quarter to the third quarter of 2024.
- The price gap between new and resale condos has been narrowing, which suggests that resale properties remain a viable and attractive option for buyers, particularly those looking for immediate availability and cost-effectiveness.
- While overall private housing prices declined by 0.7% in the third quarter of 2024, resale prices specifically held steady. For example, average resale prices in the Core Central Region (CCR) even recorded a 1.6% increase from the second quarter to the third quarter of 2024.
- The price gap between new and resale condos has been narrowing, which suggests that resale properties remain a viable and attractive option for buyers, particularly those looking for immediate availability and cost-effectiveness.
There is no specific data available for November 2024 alone, but the trends from the third quarter suggest that the resale market has maintained its stability.
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