Why did residential owner listings decline in Singapore in Q3?

There were 24 residential owner listings recorded during the quarter.

In a recent report, Knight Frank revealed that out of the 41 owner listings in Singapore in Q3, there were 24 residential owner listings, almost half the 47 in the previous quarter. The 24 listings comprised 14 non-landed residences and 10 landed homes. More than half the non-landed residential owner listings were freehold units. 

“The decrease in residential owner listings could be attributed to some homeowners trying to hold out until the impact of the interest rate cuts materialises in the home loan market, in hopes that there will be more buyer interest in their property when the financing environment becomes more benign,” the report said.

Here’s more from Knight Frank:

There were five retail and two office owner listings in Q3 2024, two fewer retail and two more office owner listings recorded in Q2 2024. The retail units were mostly from Hoa Nam Building and Sim Lim Square. 

There were also eight industrial owner listings between July and September 2024, lower than the 15 between April and June 2024. The eight listings comprised of five freehold industrial units and three 60-year leasehold factories. 

Despite the fall in industrial owner listings, these assets continued to be highly sought after, especially the freehold ones, as owners can purchase with options either for own-use or for investment, or a combination of both.