Real estate experts predict a decline in private home resale transactions in 2024, given the"cooling measures and still tight lending environment."
In 1Q24, there were 2,603 resold homes, excluding executive condominiums. Of the total, 2,276 are non-landed, whilst 327 are landed. The resale volume also fell in the city fringe and suburbs, declining 10.2% QoQ to 769 units and dropping 8.4% QoQ to 1,333 units, respectively. "In contrast, the proportion of resale homes excluding EC in OCR dipped from 51.9 per cent to 51.2 per cent, while those in RCR slipped from 30.5 per cent to 29.5 per cent over the same period," OrangeTee added.
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