In 1Q 2024, the landed homes segment remained well-supported by aspirations and the limited new supply. Based on caveats, an estimated 295 landed homes were sold in 1Q 2024, 20.9% higher quarter-on-quarter (QoQ) and 1.0% higher year-on-year (YoY). The total value of landed homes that changed hands in 1Q 2024 was $1.6 billion, 23.0% higher QoQ but 11.7% lower YoY.
Most popular districts for landed homes among buyers include 10, 15, 19, 20 and 28. The quantum for 99-year leasehold landed homes ranged from $2.5 to $4.2 million while for 999-year leasehold and freehold landed homes, the quantum is between $2.5 and $14 million.
Prices of landed homes rose by 2.6% in 1Q 2024, 2 percentage points lower than the previous quarter. This year, prices should trend towards stabilisation and see less than 6% gains.
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