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.