Singapore’s luxury housing market has picked up in the first half of the year compared to the preceding six months, but property analysts said uncertainty continues to loom over the sector.
The luxury landed residential segment also enjoyed increased activity with $2.6b in total sales volume across 284 homes in H1 2024, compared to just $2.2b worth of 263 homes in H2 2023. Knight Frank said owner-occupiers looking for family-sized, ready-to-move-in units were the primary sales drivers of luxury condos.
The average transaction price of landed residential slipped to $1,897 psf from $1,904 psf during the same comparable period. GCB average prices, meanwhile, rose to $2,217 psf in H1 2024 from $1,712 psf in H2 2023.
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