New private residential launches fall to lowest level since Q4 2022

In Q2 2024, launches contracted by 73.3% YoY

The number of new private residential launches has dropped to its lowest since Q4 2022, decreasing by 73.3% YoY in Q2 2024.

Savills attributed the decline to a lack of larger-scale developments being launched.

The expert added that there has been a slump in units launched in the Outside Central Region (OCR), with only 126 units launched in Q2, dropping from 1,060 units in Q1 to 126 units in Q2.

In the Core Central Region (CCR) and Rest of Central Region (RCR), however, launches increased to 259 units and 249 units, respectively,

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Savills

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