Resale prices of non-landed private homes rose

RESALE prices of non-landed private homes in Singapore rose 0.3 per cent in November 2016 over the previous month, based on SRX Property’s flash estimates for last month released on Tuesday.

This contrasts with a 0.7 per cent month-on-month decline in the index for October 2016.

Last month’s increase in the index came on the back of price gains of 0.5 per cent in the Core Central Region (CCR) and 0.4 per cent in the suburbs or Outside Central Region (OCR). However, prices were unchanged in the city fringe or Rest of Central Region (RCR). 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 , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC.

Year-on-year, the November 2016 overall resale price index for private apartments and condo units was down one per cent from November 2015. The sub-indices for RCR and OCR posted year-on-year price declines of 1.5 per cent and 2.6 per cent respectively. On the other hand, the sub-index for CCR climbed 2.3 per cent over the same period.

The overall price index for November 2016 was down 8.3 per cent from the recent peak in January 2014.

SRX estimated that 581 non-landed private homes were resold last month – a drop of 8.8 per cent from 637 units in October 2016 but 21.3 per cent higher than the 479 units resold in November 2015.

Last month’s resale volume was 71.7 per cent below the peak of 2,050 units in April 2010.

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