Prices to remain relatively stable

QUARTERLY statistics released by the Singapore government on Friday morning showed that the decline in prices of private homes has moderated in the second quarter, where the fall was a smaller 0.4 per cent compared to the 0.7 per cent a quarter ago.

Housing & Development Board (HDB) resale prices were unchanged in the second quarter, compared to a quarter ago, while resale transactions increased by 31.2 per cent from the first quarter to 5,838 cases in the second quarter. Upcoming executive condo include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, The Amore EC,  Bellewaters EC, Bellewoods EC.

Here are some comments from market watchers:

On private residential market

ERA Realty key executive officer Eugene Lim: Buyers remain very price-sensitive in today’s market and most of the transactions are concluded in the S$1 million-S$1.5 million range.

With economic headwinds and cooling measures still present, we do not expect a sudden rebound in prices anytime soon. With prices being more stable, we expect an overall price decrease for 2016 to be 2 to 2.5 per cent, improving from the 3.7 per cent price decline in 2015.

signature at yishun ec executive condo site pic 1