Singapore private home sales rise 15.3% to 21,950 in 2024

Over 7,400 units were sold in Q4 alone.

According to OrangeTee, Singapore private home sales (non-landed and landed excluding EC) increased by 38.4 per cent from 5,372  in Q3 2024 to 7,433 units in Q4 2024.

A total of 21,950 private homes, excluding EC, were sold for the entire year of 2024, which was 15.3 per cent higher than the 19,044 units sold in 2023.

Here’s more from OrangeTee:

A surge in new home sales mainly drove last quarter’s price increase, and new homes generally command higher prices than resale homes.  With the spike in new project launches last quarter, new home sales jumped by 194.8 per cent from 1,160 units in Q3 2024 to 3,420 units in Q4 2024. This is the highest quarterly new sales since Q3 2021, when 3,550 units were sold. Regarding launches, the number of private homes released for sale jumped by 166.7 per cent from 1,284 units in Q3 to 3,425 units in Q4 2024.

Conversely, the resale market exhibited a more subdued performance due to increased competition from the primary market. Resale volume dropped by 4.1 per cent from 3,860 units in Q3 to 3,702 units in Q4 2024.