The CCR accounted for 25.2% while the RCR and OCR made up 29.1% and 45.6%.
Price gains in the property market moderated to 1.5% in 1Q 2024, easing from the 2.8% gains in the previous quarter while transaction volume in 1Q 2024 is lower by about 20% quarter-on-quarter, largely pulled down by the resale and subsale market.
Huttons Data Analytics estimate developers launched between 1,300 and 1,400 private residential units and sold between 1,100 and 1,200 private residential units in 1Q 2024, close to 1Q 2023’s 1,312 launched units and sales of 1,256 units.
The market may only see up to 30 launches and between 7,000 and 8,000 units in 2024, similar to 2023’s 26 project launches and 7,551 launched units.
Developers may sell up to 7,000 new homes while prices are expected to be stable, increasing up to 5% in 2024
