URA Releases Q4 2024 Flash Estimates for Private Residential Property Market
Jan 9
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URA Releases Q4 2024 Flash Estimates for Private Residential Property Market
+ The property price index rose by 2.3% in Q4 2024, driven by new project sales. The yearly increase slowed to 3.9%, down from 6.8% in 2023 and 8.6% in 2022.
+ To meet housing demand and ensure stability, the Government increased private housing supply in the GLS Programme for 1H2025.
+ Economic uncertainties persist for 2025, with risks like high global interest rates and potential trade restrictions. Despite US rate cuts, mortgages remain elevated.
+ Sale transactions rose 25% in Q4 but were 14% lower annually compared to 2021-2023 averages.
Published: 02 January 2025
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