Luxury home sales rebound in H2 2024: report

There were 1,999 leasing contracts recorded in H2.

Sales momentum of luxury landed homes could moderate due to dimmer prospects of multiple interest rate cuts in H2 2024, PropNex reported.

According to PropNex, overall rental demand for landed homes remained resilient despite muted market sentiment and reductions in expatriates' accommodation budgets.

In Q3 2024, the URA rental index for landed homes posted a 3.2% quarter-on-quarter (QoQ) growth, reversing the three-quarter decline of nearly 4.2% from Q4 2023 to Q2 2024.

In H2 2024, 1,999 leasing contracts for landed homes were recorded, with contracts collectively valued at over $21.3m.

Meanwhile, in 10M 2024, approximately 4,205 landed home leasing contracts worth nearly $43.4m were signed, up from 4,180 contracts worth $46.8m in 10M 2023.