The number of landed properties sold from January to October of 2017 saw an increase of 50% year-on-year with 1,513 properties sold in the first ten months of this year as compared to 1,009 sold in 2016.
As compared to property prices in the third quarter of 2013 when landed property prices were at their peak, prices recorded this past year are more reasonable to buyers. As the demand for landed property homes increased over the last few years, buyers are now actively purchasing landed properties, leading to the stabilisation of prices in the third quarter of 2017.
According to numbers released by the Urban Redevelopment Board (URA), the value of landed property transactions saw an increase of 41.1%, from $4.3 billion to $6.1 billion. With two more months left on the calendar for 2017, the transaction value for private properties sold this year so far have already surpassed the total value of $5.1 billion recorded in 2016 and the number is expected to continue increasing before the year ends.
Read more at the Straits Times website