http://www.straitstimes.com/archive/...table-20150311

Non-landed private resale prices stable

Published on Mar 11, 2015 1:57 AM


RESALE prices of non-landed private homes held steady last month, but experts expect the market to continue the correction that began in January last year.

SRX Property's price index, which tracks transaction information from property brokers, said yesterday that resale prices inched up from 168.3 in January to 168.4 last month, and a 3.2 per cent slip from February last year.

January's price change was revised up from a 0.2 per cent decrease, according to flash estimates last month.

"Any price increase for resale properties... usually cannot be sustained for more than a month or two," said Mr Ong Kah Seng, director of property firm R'ST Research. The total debt servicing ratio, which has restricted how much financing banks may extend, is still "significantly restricting large property loans and buyers' interest", he said.

Just 321 units changed hands last month, a 6.7 per cent fall from 344 units resold in January.

CHERYL ONG