Based on the latest flash estimates released by the URA, private home prices went up by 2.7 per cent in Q4 bringing a full-year rise to 6.7 per cent.
If you notice the table above, the landed segment and non-landed homes in the CCR reversed a 3.6 per cent and 2.7 per cent decline respectively from Q3 and made substantial gains of more than 4 per cent. Non-landed OCR homes outpaced other regions with an increment of 4.6 per cent.
Q4’s positive results were mainly driven by two projects that did exceptionally well, Watten House which sold 114 units at an average price of $3,209 psf, and J’Den which moved 327 units at an average price of $2,475 psf. The two projects alone accounted for almost half the sales for their respective regions in the CCR and OCR.
Now private home owners stand at the crossroads of deciding what’s the best move for them. And what will 2024 real estate market be like? Contact Kia & Catherine to understand more!
