Landed home resales jumped 12.7% in Q2
More than half of the properties sold were terrace homes.
Landed home resales rose 12.7% YoY to 567 units in Q2, Edmund Tie & Company (ET&Co) revealed. On a quarterly basis, transactions rose 8.4% from Q1.
For H1 2018, resale transactions skyrocketed 40.5% to 1,090 landed homes from the 776 caveats registered in H1 2017. Similarly, the URA landed price index continued to increase for the fourth consecutive quarter, with prices of landed homes rising by 4.1% in Q2.
According to ET&Co, District 19 accounted for the largest number of landed transactions with 96 homes sold within the area in Q2. District 15 and 16 followed the landed home resale volumes with 15 and 16 units sold in each area, respectively.
The firm also noted that terrace homes were the most sought after amongst various landed property types as the 325 terrace homes sold accounted for 57.3% of the total transactions. They also found that the bulk of terrace homes that were sold in Q2 were priced between $2m to $3m.
“However, more buyers are purchasing terrace homes with a higher price quantum,” the firm explained. “This was seen from the 43.8% QoQ increase in terrace homes of $3m to $4m, from 64 units in Q1 2018 to 92 units in Q2 2018.”