2Q 2024: URA and HDB Rental Quarterly Report

Private Residential Rental Market
Rental Index

The private residential properties rental index decreased by 0.8% quarter-on-quarter (q-o-q), reflecting a slower pace of growth compared to the 1.9% seen in the previous quarter. This marked the third consecutive quarter of decline.

The Landed property rental index decreased 0.9% q-o-q while the Non-Landed property rental index decreased by 0.8% q-o-q.

The Non-Landed property rental indexes across all regions saw declines in 2Q 2024. Rents... Read More

2Q 2024: HDB Resale Quarterly Report

Continuing the trend of moderate price growth for resale flats, the latest HDB quarterly transaction data indicates a modest uptick in prices for 2Q 2024, with the Resale Price Index rising to 187.6. This is a 2.3% increase from the previous quarter, and a 6.6% from the same period in the previous year.”

Similarly, the volume of resale HDB flat transactions showed upwards movement, reaching 7,352 units in 2Q 2024. This is 4.0% higher than in 1Q2024, and 12.9% higher compared to the same period last year. This is also the highest number of HDB resale transactions since 4Q 2021.

The increase in resale prices and volume could be attributed to a strong demand for HDB flats, as well as supply tightness... Read More

2Q 2024: Residential Private Property Quarterly Report

Singapore’s private property market continued to slow down one year after the adjustments to Additional Buyer’s Stamp Duty (ABSD) rates were introduced in April 2023.

Furthermore, buyers have turned cautious and have pushed back their homebuying plans amid strong headwinds from slower economic growth. This has been further compounded by higher-for-longer interest rates and the higher cost of replacement homes.

Residential Home Prices
The All Residential PPI growth slowed to 0.9% q-o-q in 2Q 2024, down from the 1.4% q-o-q growth seen in 1Q 2024. The slower growth momentum was seen consistent across the board. Prices of non-landed properties increased by 0.6% in 2Q 2024, compared to an increase of 1.0% in the previous quarter... Read More