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Private homes prices dropped in Q2 2014

Posted on 5 Jul 2014 | Comments Off

The private residential property index fell 2.3 points from 211.6 points in first quarter 2014 to 209.3 points in second quarter 2014, according to the Urban Redevelopment Authority (URA)’s flash estimate of the price index for private residential property released today.

This is a decline of 1.1 percent, compared to the 1.3 percent decline in the previous quarter. Additionally, this is the third continuous quarter of price decrease.

Prices of non-landed private residential properties in all market segments declined in Q2 2014.

Property Price Index of Non-Landed Private Home by URA

In Core Central Region (CCR), prices fell 1.5 percent, higher than the 1.1 percent decline in Q1 2014.

Prices in Outside Central Region (OCR) decreased by 1.1 percent, higher than the 0.1 percent decrease in the previous quarter.

In Rest of Central Region (RCR), prices fell 0.6 percent, compared to the 3.3 percent decline in the previous quarter. Prices of landed properties fell 1.5 percent, higher than the 0.7 percent decline in the previous quarter.

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Posted in Property Market / Real Estate

Tagged Private homes prices, Private Residential Property, URA, Urban Redevelopment Authority

Resale prices of non-landed private residential units up 1.8 per cent in June: SRX

Posted on 5 Jul 2013 | Comments Off

Resale prices of non-landed private residential units showed an overall increase of 1.8 per cent in June 2013. This is according to a flash report by the Singapore Real Estate Exchange (SRX).

An estimated 605 non-landed units were transacted in June. SRX said this is a 21 per cent drop from the volume of 762 units in May 2013. When compared to June 2012, it is a 38 per cent decrease in resale transaction volume.

HDB resale prices slipped 0.1 per cent in June. SRX said this is the second consecutive marginal monthly drop in resale prices.

According to flash estimates, 1,210 HDB flats were sold in the resale market in June — about nine per cent less than May, where there were 1,324 resale cases. It is 32 per cent less than the resale volume in June 2012, where 1,790 HDB resale flats were transacted.

Overall HDB cash-over-valuation (COV) in June dropped S$3,000 to end at S$24,000. This is lower than the COV of S$25,000 registered in February and April 2012.

Overall rental prices for non-landed private residential in June slipped 0.2 per cent from May. This marks a fifth consecutive monthly drop in overall rents.

Overall HDB monthly rental rates in June remained unchanged at S$2,400.

An estimated 1,410 HDB flats were rented in June, 9 per cent less than May’s 1,554 rental transactions. It is slightly less than the 1,480 flats rented in June 2012.

Source – CNA – 5 Jul 2013