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Private home prices rose at slower pace of 1.4% in first quarter of 2024
But at the same time, Mr Lee Sze Teck - Huttons senior director of data analytics - said property prices have gone up by 49.6 per cent since a low in Q2 2017.
Broken down further, prices of non-landed properties in the core central region (CCR) increased by 3.4 per cent, while prices of non-landed properties in the rest of central region (RCR) and outside central region (OCR), went up by 0.3 per cent and 0.2 per cent respectively in Q1 2024.
The price moderation from Q4 2023 to Q1 2024 is likely due to relatively muted transaction volumes. Propnex CEO Ismail Gafoor attributed this "lack of impetus" from buyers to the seasonal lull at the start of the year and the Chinese New Year holidays.
The first group, who are on the hunt for space and willing to pay, led to higher prices in the landed market segment and CCR, said Mr Lee. He pointed to the 17 units sold at landed housing development Pollen Collection, at an average of S$3.7 million each, with an average land size of 1,724 sq.
