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SINGAPORE, 26 April 2024
Residential
Private residential transactions in 1Q24 slowed 2.4% q-o-q
Price gain slows to 1.4% in 1Q24 after rising 2.8% in 4Q23
Unsold inventory expands and supply crunch in the private home sales market eases
Islandwide rents continue to slide on increased leasing supply and competition for tenants
Outlook
Office
Vacancy reached a 7-year low while rents undergo a mild adjustment
Outlook brightens as the economy begins to show signs of revival
Retail
Mixed URA retail property data in 1Q24
2024 Outlook
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4Q23 1Q24
Overall 2.8% 1.4%
Non-landed 2.3% 1.0%
CCR 3.9% 3.4%
RCR -0.8% 0.3%
OCR 4.5% 0.2%
Landed 4.6% 2.6%
Rental Vacancy Rates
Index q-o-q change
1Q23 185.9 5.1% 10.8%
2Q23 190.2 2.3% 10.4%
3Q23 199.5 4.9% 9.6%
4Q23 200.1 0.3% 9.6%
1Q24 196.7 -1.7% 9.3%