Landed home prices in Singapore have surpassed $2,000 per square foot (psf) for the first time, according to Huttons’ quarterly report for the first quarter (Q1) of 2025.
This represents a 3.3% increase from the previous quarter, marking the fastest growth in prices since the third quarter (Q3) of 2022.
The rise is attributed to strong income growth, increased wealth, and declining interest rates, which have facilitated buyers in achieving their aspirations of owning landed properties.
Despite a 5.3% decline in transaction volume to 412 units, Q1 2025 recorded the highest first-quarter sales since 2021.
The semi-detached homes segment experienced the most significant increase, with a 15.7% rise to 147 units, as prices remained relatively stable.
Conversely, the transaction volume for terrace homes dropped by 18.4% due to a preference for larger units in new launches.
The report highlights that 85% of transactions involved 999-year leasehold and freehold properties. The average price for these homes increased, with terrace homes reaching $4.6 million, semi-detached homes at $6.8 million, and detached homes at $12.2 million.
Looking ahead, the landed homes market may be influenced by the global tariffs war, potentially causing locals to delay purchases. However, Singapore’s stability might attract ultra-high-net-worth individuals (UHNWIs) seeking safe havens. Prices and transaction volumes are expected to remain steady throughout 2025.
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