{"id":121220,"date":"2021-08-03T03:13:08","date_gmt":"2021-08-02T20:13:08","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-in-prime-non-landed-landed-homes-market-up-in-h1-2021\/"},"modified":"2021-08-03T12:02:49","modified_gmt":"2021-08-03T05:02:49","slug":"sales-in-prime-non-landed-landed-homes-market-up-in-h1-2021","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-in-prime-non-landed-landed-homes-market-up-in-h1-2021\/","title":{"rendered":"Sales in prime non-landed, landed homes market up in H1 2021"},"content":{"rendered":"


\nIn the first half of 2021, 245\u00a0non-landed residential units sold for a total of $2 billion, while 403 landed homes above $5 million were sold for a total of about $4.3 billion.
\nSingapore\u2019s prime non-landed residential segment saw 245 units sold for a total amount of $2 billion in the first half of 2021, revealed Knight Frank.
\nThe figure is double the $1 billion posted in the second half of 2020 and exceeding the $1.7 billion registered in the whole of 2020. It is also the highest since H2 2010, when total sales within the luxury market segment stood at about $2.4 billion.
\nKnight Frank noted that demand for larger non-landed homes within the prime district has been on the uptrend as many buyers gravitate towards bigger floorplans to accommodate living and working spaces.
\n\u201cBoth foreign and local homebuyers\/investors were looking to penthouses or larger units with more than 3,000 sq ft from the newly-launched Park Nova and Midtown Modern, as well as in the resale market,\u201d it said.
\nNotable deals in H1 2021 included the $293 million sale of all units at Swire Properties\u2019 Eden, which works out to an average price of $4,827 per sq ft (psf).
\nOver at the landed home segment, 403 units above $5 million were sold during the period under review, bringing total sales at about $4.3 billion, up from $2.7 billion in H2 2020.
\n\u201cThe demand was primarily driven by home upgraders looking to move into larger accommodations, especially in close proximity to reputed schools, as well as residents selling their private homes at higher prices due to an active and robust private home market, driven in part by the nouveau riche from the technology, pharmaceutical and finance sectors,\u201d said Knight Frank.
\nThe robust demand in the landed home segment resulted in a thriving Good Class Bungalow (GCB) market, which saw 37 deals amounting to $1.2 billion.
\nThis was higher than the previous peak of about $1.1 billion in H1 2010 \u201cas the asset class remains coveted and well-sought after by the growing number of ultra-high-net-worth Singaporeans and newly minted citizens\u201d.
\nLooking ahead, Knight Frank expects the landed market segment to witness continued interest for the rest of the year, \u201cwith prices moving upwards led by GCB sales\u201d.
\nIt believes the GCB market will enter a renaissance over the next 12 months, \u201cas pandemic-driven entrepreneurship and transformative COVID-19 industries create new wealth and a new class of luxury home buyer\u201d.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Sales in prime non-landed, landed homes market up in H1 2021<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the first half of 2021, 245\u00a0non-landed residential units sold for a total of $2...<\/p>\n","protected":false},"author":1,"featured_media":121221,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-121220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/BUNGALOW-SINGAPORE.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vxa","jetpack-related-posts":[{"id":119931,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-homes-market-to-see-increased-activity-this-year\/","url_meta":{"origin":121220,"position":0},"title":"Landed homes market to see increased activity this year","date":"January 29, 2021","format":false,"excerpt":"\r Knight Frank noted that 253 landed homes were transacted in the second half of 2020, up from the 108 units shifted in 1H 2020 and the 126 units sold in 2H 2019. With demand for landed homes remaining healthy, Knight Frank expects to see increased activity in the landed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Landed-homes-in-Singapore.jpg?fit=840%2C420&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":118202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sale-of-prime-non-landed-homes-plunge-52-9-in-1h-2020\/","url_meta":{"origin":121220,"position":1},"title":"Sale of prime non-landed homes plunge 52.9% in 1H 2020","date":"August 12, 2020","format":false,"excerpt":"\r However, Knight Frank expects the sale of prime non-landed homes to improve in the second half of 2020. Singapore saw sale of prime non-landed homes drop 52.9% to $659.2 million in the first half of 2020 from the $1.4 billion registered in the second half of 2019, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-home-sales-surge-as-prices-drop-to-attractive-levels\/","url_meta":{"origin":121220,"position":2},"title":"Landed home sales surge as prices drop to attractive levels","date":"November 3, 2017","format":false,"excerpt":"\r The ongoing recovery in the housing market saw landed home sales surge in the first 10 months of 2017 as landed property prices fell to attractive levels from their Q3 2013 peak, reported Business Times. Between January and October, the number of landed homes sold stood at 1,513 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21805,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-homes-on-auction-in-q2-report\/","url_meta":{"origin":121220,"position":3},"title":"More homes on auction in Q2: report","date":"August 3, 2016","format":false,"excerpt":"\r The number of landed properties put up for mortgagee sale rose by 142 percent from last year. The number of residential properties put up for auction increased by 21.2 percent quarter-on-quarter to 103 units in Q2 2016, according to a Knight Frank report. 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