Buyers drawn back into market

Prices fell across the private residential, commercial and resale public housing segments in the first quarter, with the losing streak for private homes extending to 14 quarters – the longest slump in 13 years.

But analysts said the slower pace of decline and brisk sales in the first quarter suggests that the market could bottom out this year. Overall private home values dipped by 0.4 per cent from the fourth quarter to the first – led by the landed property segment – data from the Urban Redevelopment Authority showed yesterday. Upcoming executive condo launches include Hundred Palms Residences, Anchorvale Lane EC,  while existing ones include Parc Life, Signature at Yishun,  Brownstone EC, Visionaire ECInz Residence, The Criterion EC and Northwave EC, The Terrace EC,  The Vales EC, Sol Acres EC and The  Bellewoods EC. Hundred Palms Residences details and Hundred Palms EC show flat will be available shortly.

The price drop was smaller than the 0.5 per cent fall from the third quarter to the fourth.

Private home values had fallen by 11.6 per cent as at March 31 since a peak in the third quarter of 2013, as cooling measures tamed demand.

Sentiment has turned positive, owing to easing of cooling measures last month and an improvement in the economy, drawing buyers back.

 The first quarter saw the highest private home sales in 15 quarters at 5,202 units – comprising 2,962 new sales excluding executive condos and 2,170 resale transactions.
executive condo photo 4