It’s getting hot in Singapore as resale prices and volume inch upwards across the board
Singapore. Image credit: Leong Him Woh (Flickr)
For the fourth month in a row, condo resale prices in Singapore have been increasing, albeit incrementally.
According to flash estimates by Singaporean real estate portal SRX Property, resale prices of non-landed private homes have been on an upward streak, rising 0.5 percent in the period from May to June.
While the uptick may not be markedly meteoric, it was discernible across all three major regions of the city-state. Values moved up 0.9 percent in the Core Central Region, 0.5 percent Outside Central Region, and 0.3 per cent in the Rest of Central Region.
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In its year-on-year index, SRX also reported that resale prices for June 2016 edged out those in June of last year by 1.1 percent. Resale volume in the year to June 2016 was also impressive, rising 27.4 percent to 754 units, compared with 592 units in the previous year.
SRX highlighted, however, that 763 units were resold in May 2016. Also, June 2016 prices have sunk 5.9 percent since the index last peaked in January 2014.
In April 2010, SRX reported resales of 2,050 units or 63.2 percent above those for June 2016.
SRX has amended its data to reflect a resale price increase of 0.7 percent from April to May this year. Earlier flash estimates placed the month-on-month increase then at 0.4 percent.
SRX’s median transaction over x-value (TOX) has also climbed for the third month in a row. It rose from negative SGD8,000 (USD5,900) in May 2016 to negative SGD7,000 (USD5,200) in June 2016.
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Source : property-report.com
Read more…SG condo resale prices climb for 4 months straight
