Following the sizzling sales in November, new home sales fizzled out and fell by 92% in December to 203 units (ex. EC) from the 2,560 units transacted in the previous month. The slump in developers’ sales was expected as there were no fresh project launches in December, after an unprecedented deluge of launches in November. The 203 new units sold in December represent the lowest monthly sales in 10 months, since 153 units were transacted in February 2024. Read the latest report to see how the new homes sales market performed in December 2024!
In the second half of 2024, the landed residential property market picked up momentum, with more buyers coming in to snap up value deals in the landed market, taking advantage of the softer asking prices and market uncertainty. Activity in the GCB market picked up in 2H 2024, achieving about 12 deals worth nearly $376 million in the year-to-date, compared to 1H 2024, where 10 deals amounting $233 million were achieved - though there were more big-ticket GCB transactions recorded during the first half of the year. Read this report for insights of how the GCB and Prestige landed market performed in the second half of the year as well as PropNex’s forecast for 2025!
Following a strong finish to 2024 with increased confidence driven by US Fed rate cuts, both the private and public housing markets are expected to maintain their momentum into 2025. Demand for well-located homes, both new and resale, remains robust, with private home prices projected to rise by 3-4% and HDB resale prices potentially climbing by 5-7%. Read this report to find out PropNex's outlook forecast for the residential property market in 2025.
Monthly Report (Dec 2024)
新私宅销售月报（2024 年 11 月）
新私宅销售月报（2024 年 10 月）
