Narrowing price expectations boost landed home transactions by 45.8% in Q2
The number of landed homes sold in Q2 was also 58.1% YoY higher.
The narrowing price expectations between sellers and buyers led to a 45.8% increase in landed home transactions in Q2 2024.
In Q2 2024, 430 landed homes exchanged hands, 58.1% YoY higher than in Q2 2023.
According to Huttons, the biggest surge in transacted volume was observed in the semi-detached homes segment. Sales of semi-detached homes jumped by 60% QoQ and 81.3% YoY to 136 units.
Huttons said the 1.9% QoQ reduction in semi-detached home prices to $1,776 psf may have encouraged more transactions.
A semi-detached home on Jalan Chempaka Kuning, however, was the lowest-valued landed home transacted in Q2, selling for $0.5m. Meanwhile, the most expensive landed home in Q2 was a freehold detached home on Jalan Tupai, sold for $32.5m.
With more transactions, the total value of landed homes sold in Q2 was $2.3b, marking a 46.4% increase from $1.6b in Q1 and a 54.7% rise YoY.
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