Singapore landed property prices fell

While the overall trend for Singapore's landed property market has been one of resilience and price growth, there are some nuances to consider.

In the first half of 2024, the landed property market showed steady price growth and robust transaction volumes, with the Urban Redevelopment Authority’s (URA) Private Residential Property Price Index for landed homes hitting a record high in Q1 2024, marking a 2.6% quarter-on-quarter increase.

However, more recent data indicates a slight cooling in the market. For the third quarter of 2024, the REA Landed Sale Price Index experienced a sharp decline of 1.1%, following the significant growth of 1.9% in the previous quarter. This suggests a temporary cooling of the landed property market after its strong performance earlier in the year.

Despite this short-term decline, the long-term trend and overall market dynamics continue to support the value and prices of landed properties in Singapore, driven by increasing affluence, scarcity of landed homes, and their appeal as a store of value and lifestyle asset.