Landed homes help heat up property market
Buoyant Q3 for all segments except suburban leasehold apartments
The property market is building up steam again after a flat few months, with landed homes leading the charge. Average resale prices of freehold landed homes in the prime districts rose 1.2 per cent this quarter, a touch up on the 1 per cent rise in the previous three months.
Suburban landed home prices gained 2.4 per cent, doubling the 1.2 per cent rise in the second quarter, with semi-detached and terrace home prices showing the way, according to an analysis by consultancy DTZ.
It found that other segments are also heating up. Prices of freehold apartments in prime districts 9, 10 and 11 and in suburban areas rose 1 per cent, about twice the increase they racked up in the second quarter.
Leasehold apartments in suburban areas were the only exception to the more buoyant market, with price gains slowing to 0.5 per cent in the third quarter from 0.6 per cent before.