Singapore’s private home prices swing up 2.3% in Q4 on strong new launch sales, taking 2024 gain to 3.9%

PRIVATE residential property prices in Singapore rose 2.3 per cent in the fourth quarter of 2024, bringing the full-year increase to 3.9 per cent, according to flash estimates released by the Urban Redevelopment Authority on Thursday (Jan 2). 

Prices of non-landed private properties jumped across all regions in the quarter, with strong buying at new launches, while projects already on the market benefited from a rebound in demand.

The Singapore private residential market defied initial expectations with a strong finish in 2024, driven by pent-up demand and a slew of well-located new launches in the last quarter of the year, said Wong Xian Yang, Cushman & Wakefield research head for Singapore and South-east Asia.