21 Feb 2024
Entering Landed Property Arena in 2024
Property Insight

In 2024, Singapore's landed property market is poised to experience continued interest and growth, buoyed by its appeal as a symbol of prestige and the unique architectural diversity it offers. The market witnessed a 4.5% increase in the landed property price index in the last quarter of 2023.This uptrend underscores the robust demand for luxury and exclusivity inherent to landed properties, despite the broader economic challenges.

The year 2023 saw remarkable transactions, including a record sale at Chancery Lane and noteworthy acquisition by Sustained Land at Dyson Road,signaling vibrant markets characterized by high-profile deals and a keen interest in redevelopment opportunities.

Despite the introduction of cooling measures aimed at moderating the property market,landed property sales have shown resilience. Historical patterns suggest that sales volumes typically rebound 1 to 2 years following the implementation of such measures, driven by a combination of cautious optimism among buyers and the enduring allure of landed homes.

In 2023, the segment recorded 1,452 transactions, reflecting sustained interest despite higher Additional Buyer's Stamp Duty (ABSD) rates potentially impacting foreign investment.The stability and perceived security of Singapore's property market continue to attract the ultra-rich, with a particular focus on high-net-worth individuals (HNWIs) and new citizens who value the exclusivity and investment potential of landed properties.

Geographically, District 19 emerged as a hotspot with the highest number of transactions in2023, illustrating the diverse appeal of landed properties across Singapore's different districts. The trend of HDB upgraders moving into the landed property segment further exemplifies the aspiration for upscale living, spurred by the increasing number of million-dollar HDB resale transactions.

Good Class Bungalows (GCBs) remain the epitome of luxury living in Singapore, representing the pinnacle of the landed property market. Although transactions within this highly exclusive category saw a decrease in 2023, the market for GCBs is believed to be much more active than reported, given the privacy preferences of buyers and sellers in this elite segment. The ongoing demand for GCBs from HNWIs and new citizens underscores their status as not just luxury homes but as coveted investment opportunities, promising stability and potential appreciation in value.

Looking ahead to 2024, the landed property market is expected to maintain its momentum,with sales volumes projected to range between 1,400 to 1,500 units. This outlook is buoyed by the intrinsic appeal of landed homes as lifestyle investments that offer not only a place of residence but a statement of prosperity and a legacy asset. As Singapore continues to attract global wealth and aspires to maintain its status as a safe haven for property investments, the landed property sector is set to remain a vibrant and integral component of the nation's real estate landscape, offering both challenges and opportunities for buyers, sellers, and investors alike.

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Prepared By:
Mohan Sandrasegeran
Head of Research & Data Analytics





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28 Aug 2025
Singapore Office Market Review 1H2025: Prices, Rentals and Outlook

The strata office market displayed encouraging growth in the first half of 2025. Transaction volume rose from 160 deals in 1H2024 to 189 deals in 1H2025, reflecting an 18.1% year-on-year increase. This upward trend shows firm investor confidence in strata-titled spaces, with buyers continuing to seek bite-sized investments in city-fringe and decentralised areas. Limited new strata supply and long-term capital preservation strategies also played a part in strengthening commitment from investors.

The outlook suggests the office market is shifting towards a more balanced state. The island-wide vacancy rate declined to 11.4% in 2Q2025, down from 11.7% in the previous quarter, pointing to healthier demand dynamics. Tenants continue to right-size, consolidate, or upgrade into better-quality spaces, particularly newer Grade A developments. The narrowing vacancy rate is a positive sign for landlords managing high-specification assets, as rental stability could be sustained.

Sentiment is cautiously optimistic. The Department of Statistics’ Business Expectations Survey indicates firms in the services sector expect conditions to improve from July to December 2025. This aligns with Singapore’s economy, which expanded by 4.4% year-on-year in 2Q2025, up from 4.1% in the first quarter. Growth was broad-based, with manufacturing, construction, wholesale and retail trade, finance, transport, and storage contributing.

Occupiers remain focused on efficiency, sustainability, and talent attraction. Combined with Singapore’s political stability, pro-business environment, and infrastructure, these factors strengthen its role as a regional hub. In summary, stable macroeconomic fundamentals, improving sentiment, and tightening supply support a steady leasing environment. The office market is expected to remain resilient, especially in the Core CBD and decentralised nodes, where long-term structural trends continue to drive demand.

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here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg