News > Singapore Property Market Snapshot - November 2024

Singapore Property Market Snapshot - November 2024

18 December 2024

Explore how Singapore Property Market performed in November 2024 below:

Hot Topics in Singapore Property Market November 2024

1. Largest sale of balance flats in February to offer over 5,500 HDB units.

Singapore Housing Board is set to release over 5,500 balance flats for sale in February 2025, marking the largest offering of these flats to date amidst a continuous rise in resale market prices. The surge in demand and limited supply have led to a notable increase in both prices and transactions, with a significant number of million-dollar flat transactions recorded. Read more >>

2. FLASH: URA’s office rental index for central region dips 0.5% qoq in Q3 2024.

Office rents in Singapores central region dropped by 0.5% in Q3 of 2024, with islandwide vacancies increasing to 11%. The slowdown is attributed to limited relocations and expansions due to global economic uncertainty. Analysts note a surge in office supply impacting rental rates, with a rise in vacancies. Read more >>

3. First two housing sites in Bukit Timah Turf City can have up to 700 homes.

Singapores Urban Redevelopment Authority is set to transform Bukit Timah Turf City into a vibrant residential hub, with plans for around 700 homes, commercial units, and a new park. Additionally, other areas like Marine Parade and Little India are also earmarked for residential developments. Read more >>

Price Indexes

*Index value is 1 at year 2008

Price Indexes shown are powered by REA Property Price Index - an accurate and objective indicator of the real estate market performance. Read more about our index here.

1. Residential Property Price Index (Condo, HDB, Landed)

2. Commercial Price Index (Office)

New Launches in November 2024

For the latest updates of pricing and sales status of New Launches in November 2024, read our article here.

Residential Property Snapshot

1. Top 5 Districts with highest Month on Month (M-o-M) Index Change

2. Top 5 most popular Condo projects in November 2024

For Condo new sale, the most popular projects with highest transaction volume in November are: Emerald of Katong, Chuan Park, Nava Grove, Novo Place and The Continuum.

For Condo resale, the most popular projects are: Parc Esta, Reflections at Keppel Bay, Parc Botannia, Whistler Grand and Forestville.

Definitions by URA :

*New Sale: The sale of a unit direct by a developer before the issuance of the Certificate of Statutory Completion and the Subsidiary Strata Certificates of Title or the Certificates of Title for all the units in the development.

*Resale: The sale of a unit by a developer or subsequent purchaser after the issuance of the Certificate of Statutory Completion and the Subsidiary Strata Certificates of Title or the Certificates of Title for all the units in the development.

3. Top 5 most popular projects (HDB) in November 2024

The most popular HDB projects with highest transaction volume in October are: Tampines Greenweave, Fernvale Woods, Tampines Greenview, Eastcreek @ Cranberra, Macpherson Spring.

4. Top 5 highest transacted price (Condo) in November 2024

The most expensive Condo transaction in November 2024 is a 4-bedroom unit on low floor at 32 Gilstead Condo, which was sold at $14.8 million for a total area of 4,219 sqft ($3,504 PSF).

5. Top 5 Transactions by Annualised Capital Gain/Loss in November 2024

The most profitable Condo transaction in November 2024 happened at Sin Ming Plaza in D20 after being held for nearly 20 years, recording a 17.03% annualised gain.

The highest annual loss percentage of the month was seen in a unit at Marina Bay Residences Condo, which recorded an annual loss of 7.95%.

Residential Listings (Condo, HDB, Landed) June - November 2024

*New Listing: the total number of listings that are newly added in that particular time period

Commercial Snapshot

1. Top 5 Office and Retail Sale (by volume and transacted price) (September - November 2024)

2. Top 5 Shophouses with Highest Transacted Price (Sale and Rent) in November 2024

*The data presented in this monthly report is accurate as of 18 December 2024. While we strive to provide the most up-to-date information available, it is important to note that there may be a small percentage of transactions that experience delays in reporting from the respective agencies and government sources. Therefore, the data provided should be interpreted with this in mind, and you are encouraged to verify the latest information for your specific needs.

*All analytical and visually interpreted data in this report is powered by RealAgent, a comprehensive app for real estate professionals. It offers a blend of property information, real-time transaction data, and advanced analytics, ensuring accurate and up-to-date insights for our report. Find out more about RealAgent here.

Download the full report (PDF) here: 112024 - Singapore Property Market Snapshot.pdf

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Continue to read our previous monthly reports:

Singapore Property Market Snapshot - October 2024

Singapore Property Market Snapshot - September 2024

Singapore Property Market Snapshot - August 2024