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Residential price growth to moderate in 2024

EDMUND TIE expects a growth of 3%-5%.

With more units to set for launch in 2024, a real estate expert expects residential price growth to moderate to a more "sustainable level" of 3%-5% in 2024. In 2023, prices grew 6.7%.

This year, EDMUND TIE said there will be around 10,000-11,000 new units, a sizeable increase from 2023's 7,500 units.

With more supply, EDMUND TIE also expects higher new home sales of 
7,000-8,000 units in 2024.

In 2023, primary home sales declined 10% to 6,421 units from 7,099 in 2022.
 

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