Landed home sales struggle in Q3 as buyers hesitate on purchases

Sales fell 3.7% QoQ to 414.

Fewer landed homes exchanged hands in Q3, with sales volume easing by 3.7% QoQ to 414.

According to Huttons, some buyers delayed purchases during the Lunar Seventh Month and awaited the expected interest rate cut in September 2024.

The increase in new non-landed launches also led buyers to weigh their options.

Amongst segments, detached homes saw the steepest drop, with transactions declining from 46 in Q2 to 27 in Q3.

Semi-detached homes experienced a milder decline, from 136 to 130.

With lower volume, the total transaction value also declined, dropping 11.8% YoY to $2.1b.

Landed home prices in Q3 ranged from $0.5m to $14.2m for 99-year leaseholds and from $1.6m to $20m for 999-year and freehold properties.

The lowest sale was a semi-detached home at $0.5m, whilst the highest was a freehold property in Clementi Park at $20m

The lowest-priced sale was a semi-detached home at $0.5m, while the priciest was a Clementi Park freehold home at $20m.

Meanwhile, the most popular districts for the quarter were 13, 15, 16, 19, and 28.