3Q2024 URA private residential updates

In Q3 2024, private housing prices fell by 0.7% for the first time since the second quarter of 2023, with a slowdown in price growth across all market segments. From the start of 2024 to the third quarter, housing prices rose by 1.6%, a notable decrease from the 3.9% increase during the same period in 2023. 

On Rentals, non-landed property rentals increased by 0.5%, recovering from a 0.8% decline, while landed rentals surged by 3.2% after a 0.9% dip. 

The growth is mainly driven by the Rest of Central Region (RCR) and the Outside Central Region (OCR), which saw increases of 1.7% and 2.2%, respectively. Meanwhile, the Core Central Region (CCR) faced a 1.6% decline, continuing its 0.1% drop from the previous quarter. RCR and OCR are clearly outperforming CCR in the rental market during this period.

To understand how your asset is performing in the current market landscape, reach out to us. Every asset is unique, and we would be delighted to provide you with a detailed analysis tailored to your specific situation. Let’s explore how you can maximise your property's potential.