carbuncle
12-11-12, 16:31
October's biggest resale rental price hike
Overall resale price for homes is $1,209psf.
According to Singapore Real Estate Report, overall, the unit resale price for non-landed private residential is stable at $1,209psf on a month-on-month basis for Oct compared with Sep. However, compared to the 3Q average at $1,159psf, the month of Oct represents a 4.1% increase.
Here's more from SRX:
Drilling down to the regional level, in October, all regions have outperformed the previous quarter in terms of unit resale price. Rest of Central Region (RCR) has been leading the gain with a 4.5% increase over Q3, followed by Outside Central Region (OCR), which saw a 4.2% increase. The Core Central Region (CCR) also showed a 1.8% increase despite it being the smallest gain among all regions.
Unlike the optimism in the resale market, the rise in average unit rental has been marginal at 0.5%, from $3.87 psf in 3Q to $3.89 in October. The biggest rental price increase of 2.0% was observed in OCR, followed by the 0.9% increase in CCR. On the other hand, RCR's average unit rental reversed its rising trend in the first 3 quarters of the year to slip by 2.2% in Oct compared with 3Q.
Due to strong price gains and relatively weaker performance in the rental market, overall gross rental yield fell to 3.87% in October compared with the yield of 4.01% in 3Q.
Overall resale price for homes is $1,209psf.
According to Singapore Real Estate Report, overall, the unit resale price for non-landed private residential is stable at $1,209psf on a month-on-month basis for Oct compared with Sep. However, compared to the 3Q average at $1,159psf, the month of Oct represents a 4.1% increase.
Here's more from SRX:
Drilling down to the regional level, in October, all regions have outperformed the previous quarter in terms of unit resale price. Rest of Central Region (RCR) has been leading the gain with a 4.5% increase over Q3, followed by Outside Central Region (OCR), which saw a 4.2% increase. The Core Central Region (CCR) also showed a 1.8% increase despite it being the smallest gain among all regions.
Unlike the optimism in the resale market, the rise in average unit rental has been marginal at 0.5%, from $3.87 psf in 3Q to $3.89 in October. The biggest rental price increase of 2.0% was observed in OCR, followed by the 0.9% increase in CCR. On the other hand, RCR's average unit rental reversed its rising trend in the first 3 quarters of the year to slip by 2.2% in Oct compared with 3Q.
Due to strong price gains and relatively weaker performance in the rental market, overall gross rental yield fell to 3.87% in October compared with the yield of 4.01% in 3Q.