Insightful Property Reports

New private home sales jumped in September on renewed buying interest and healthy take-up of units at a newly launch project in the city fringe. Developers sold 401 new private homes (excluding executive condos) during the month, marking a 90% increase from the 211 units shifted in August. When compared with September 2023, sales were up by about 85% on a year-on-year basis

Private new home sales declined in August following a strong rebound in the previous month. Developers sold 208 new units (ex. executive condos) in August, representing a 64% month-on-month fall from 571 units shifted in July. There were no fresh projects launched in August, which coincided with the lunar Ghost Month, a period that is typically sees a lower property sales volume, as people refrain from transacting and as developers hold back on putting new projects on the market. Read the latest report to see how the new homes sales market performed in August 2024!

Developers’ sales rebounded in July, supported by fresh project launches in the mass market segment. There were 571 units of new private homes sold (ex. executive condos) in July – more than doubling the 228 units shifted in the previous month. Of note, July’s sales figure is also the highest monthly tally in four months, and the second highest monthly sales this year (only surpassed by the 718 units sold in March). Read more about which projects performed best during the month in this latest report!

In Q3 2024, the office market experienced modest sales activity, with 70 deals totaling nearly $388 million. Office rents in the Central Region moderated slightly, dropping 0.5% QoQ, while vacancies increased to 11% due to an influx of new supply. Meanwhile, the industrial sector showed more resilience, with prices remaining stable, edging up 0.5% QoQ despite a decline in sales volume. Rentals continued to rise for the 16th consecutive quarter, up by 0.3% QoQ. Occupancy rates stayed steady at 89.0%, and 600,000 sq m of industrial space was added to the market. Read this report for insights on how the office and industrial property sectors performed in Q3 2024!

Sales momentum in the shophouse sector recovered during Q3 despite a drop in recorded transactions; a number of big ticket non-caveated deals were done during the quarter. Based on caveats lodged, there were 16 shophouse transactions recorded in Q3 2024, declining by 20% QOQ from the 20 deals in Q2 2024. Leasing activity remained buoyant with healthy tourist arrivals and spending. Overall Shophouse rentals eased slightly in Q3. According to caveats lodged, overall monthly median rents of shophouses eased to $6.64 psf in Q3, after a 3-quarter growth streak.

In Q3 2024, private home prices moderated for the first time in five quarters, since Q2 2023. The softer prices came amid tepid home sales due to limited number of launches, the market lull during the lunar seventh month period, and tentative buyer sentiment.