October's biggest resale rental price hike

[carbuncle]

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.

[ikan bilis]

Oct crazy month leh... suddenly high resale volume... may be people back date option-to-purchase ??...

[leesg123]

Build up demand due to Hungry Ghost Festival perhaps?

[yaozong7]

Oct crazy month leh... suddenly high resale volume... may be people back date option-to-purchase ??...

Yes, many backdated. The agent openly told me that "we can backdate if loan is an issue" .......haha

[radha08]

Yes, many backdated. The agent openly told me that "we can backdate if loan is an issue" .......haha

maybe one or two days after the cm...but i doubt any later than that...too risky if get caught...

[ikan bilis]

maybe one or two days after the cm...but i doubt any later than that...too risky if get caught...

why cannot....

last time when i passed my option-form to lawyer,... she was making noise because we never filled the date we signed that option, only the option's expire date and date for legal completion stated.

and when i used 1% cheque to buy that option, i did not put down my name on option. I told buyer and agents i will fill it later.

[kane]

the gulf between new sale and resale on a psf basis have caught the eye of the buyers. between 950psf and 1400psf, that's a little too wide.