Insightful Property Reports

Monthly developers’ sales hit more than a decade’s high in November, as a deluge of new launches drove a surge in transactions. There were 2,557 new private homes sold (ex. executive condos) in November, marking the highest number of new units sold in a single month since 2,793 units were shifted in March 2013. Read the latest report to see how the new homes sales market performed in November 2024!

New private home sales rebounded strongly for the second-month running, with developers shifting 738 new units (ex. EC) in October boosted by major new launches during the month. This marks an 84% month-on-month jump in sales from the 401 units in September, which had itself been a 90% MOM increase from August. October’s sales figure is the highest monthly tally in nearly a year, since 784 units were transacted in November 2023. Read the latest report to see how the new homes sales market performed in October 2024!

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

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.