Singapore

The total sales value from 184 transactions dropped 22.1% to S$1.4b in 2024.

Meanwhile, office rents grew by 2.4% for the full-year 2024.

And new home sales are expected to reach up to 9,000 units.

Total rental growth is expected to range between -1% and 2% for the full year.

Neither are in a position of dominance, according to analysts.

This growth rate is almost double that of 2023’s 4.9%.

The decline was due to over 8,500 new flats launched in October.

Prices increased by 3.9% for full-year 2024.

New supply won’t rise again until 2028.

These units will come from 10 sites on the confirmed list.According to PropNex, the Singapore government has kept up with efforts in boosting private housing land supply in the first half of 2025 (1H 2025) by offering 8,505 units on its upcoming Government Land Sales (GLS) programme under the Confirmed List and Reserve List.

Thanks to five new residential projects launched during the month.

The growth is a lot slower than last year’s 10.5% increase.

The fall was mainly driven by the one-north area.

Sales grew by 7.6% You to 440 transactions.According to a Savills report, following a short-lived recovery in Q2, the strata industrial sales activity in Singapore slowed by 19.7% QoQ to 440 transactions in Q3 due to the high base effect in the preceding quarter.

The volume increased by 2.1% YoY.

A new trend could have emerged in relation to the sizes of new sales units.