Singapore home resale volume drops 12% to 2,748 units in Q3

Resale transactions in the OCR were least affected.

According to a report from OrangeTee, resale volume in Singapore slipped last quarter owing to slower sales during the seventh lunar month and elevated interest rates. 

Based on URA Realis data, 2,748 resale homes (2,378 non-landed, 370 landed) excluding EC were sold in Q3 2023, slipping by 12 per cent from 3,121 units (2,746 non-landed, 375 landed) in Q2 2023. 

“Resale volume in the Core Central Region dipped by 15.3 per cent from 562 units in Q2 2023 to 476 units in Q3 2023, while those in the Rest of Central Region also declined by 15.3 per cent from 954 units to 808 units in the same time frame. Resale transactions in the Outside of Central Region were the least impacted, dropping by 8.8 per cent, from 1,605 units in the second quarter to 1,464 units in the third quarter of this year,” the report said.