Prices climbed in the suburbs

RESALE prices of non-landed private homes in Singapore rose 0.4 per cent month on month in December 2016 based on SRX Property’s flash estimate. This follows a 0.5 per cent gain in November 2016.

In December 2016, prices climbed 1.2 per cent in the suburbs or Outside Central Region (OCR) but eased 0.5 per cent in the city-fringe or Rest of Central Region (RCR). In the prime area or Core Central Region (CCR), prices were unchanged. Upcoming executive condo launches include Yio Chu Kang EC, Inz Residence EC, Choa Chu Kang EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC.

Year-on-year, the December 2016 overall resale price index for private apartments and condo units inched up 0.1 per cent. The sub-indices for RCR and OCR slipped 0.9 per cent and 0.4 per cent respectively, while prices in the CCR appreciated 1.8 per cent over the same period.

SRX Property noted that overall resale prices of private apartments and condos for December 2016 were 7.8 per cent below the recent peak in January 2014.

It estimated that 484 private apartments and condos were likely to have been resold last month – reflecting a 21.7 per cent m-o-m drop but up 6.8 per cent year on year.

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