Resale prices of condos rose 0.4% m-o-m in Dec: SRX

[reporter2]

http://www.businesstimes.com.sg/real...o-m-in-dec-srx

Resale prices of condos rose 0.4% m-o-m in Dec: SRX

Tuesday, January 10, 2017

by Kalpana Rashiwala
[email protected]
@KalpanaBT


RESALE prices of non-landed private homes in Singapore rose 0.4 per cent month on month in December 2016 based on SRX Property's flash estimate. This follows a 0.5 per cent gain in November 2016.

In December 2016, prices climbed 1.2 per cent in the suburbs or Outside Central Region (OCR) but eased 0.5 per cent in the city-fringe or Rest of Central Region (RCR). In the prime area or Core Central Region (CCR), prices were unchanged.

Year-on-year, the December 2016 overall resale price index for private apartments and condo units inched up 0.1 per cent. The sub-indices for RCR and OCR slipped 0.9 per cent and 0.4 per cent respectively, while prices in the CCR appreciated 1.8 per cent over the same period.

SRX Property noted that overall resale prices of private apartments and condos for December 2016 were 7.8 per cent below the recent peak in January 2014.

It estimated that 484 private apartments and condos were likely to have been resold last month - reflecting a 21.7 per cent m-o-m drop but up 6.8 per cent year on year.

[Sandiwara]

0.1% of 1M is 1k. I am not sure whether that consider up.

[reporter2]

http://www.straitstimes.com/business...ear-in-neutral

Condo resale prices end year in neutral

Jan 11, 2017

Rupali Karekar


After zigzagging for much of the year, resale prices for condominiums and apartments ended last year at about the same place they were 12 months earlier.

Overall prices edged up just 0.1 per cent, according to flash figures released by SRX Property yes- terday.

That there was any increase at all is likely due to the 1.8 per cent price jump for properties in the prime districts that offset falls of 0.9 per cent in the city fringe and 0.4 per cent in outlying districts.

The index inched up 0.4 per cent from November to last month, led by a price increase of 1.2 per cent for properties outside the central region while those in the rest of the central region decreased by 0.5 per cent in value. Prime district property values remained unchanged.

The index for last month was down 7.8 per cent from the recent peak in January 2014.

"Price increases lasted no more than four consecutive months in 2016... before reversing direction in the subsequent months," said Mr Ong Kah Seng, director of R'ST Research. The movement reflects "increasing potential for price stability rather than recovery going forward", he added.

The number of resale units sold last month fell by 21.7 per cent to 484 from the 618 moved in November, according to SRX data.

However, that was still 6.8 per cent higher than the 453 units resold in December 2015.

Overall, sales volumes last month were 76.3 per cent down from the peak in April 2010 when 2,050 units were resold.

R'ST Research expects prices to follow the same up-and-down pattern this year but added that non-landed, completed property values may fall by up to 1 per cent, an estimate tallied against SRX's numbers for last year.

More private condo units will be put up for resale as owners clear the four-year holding period to avoid paying sellers' stamp duty.

Mr Ong said: "For these investors who bought suburban condos and experience weak leasing demand, they may be more willing to cut prices, such that they at least break even - because they will feel it is not worth the efforts to keep devising strategies to attract tenants."