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Thread: Private home resale prices down in April

  1. #1
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    Default Private home resale prices down in April

    Private home resale prices down in April

    MAY 30, 2017

    Rachael Boon


    Condo resale prices took a dip last month despite a positive turn in March, possibly as buyers look towards new projects instead.

    Values fell 0.6 per cent from March to April, said flash estimates of the NUS Singapore Residential Price Index (SRPI) out yesterday. The drop reversed the 0.8 per cent rise in values from February to March.

    R'ST Research director Ong Kah Seng said the dip was within expectations. Although sentiment may have improved, he said: "The exuberance in buyers' sentiments has been more significant at the developer sales segment, rather than for resale properties. Buying interest remains realistic for resale properties. Buyers focus on getting value for money or opportunistic investments for resale properties."

    OrangeTee's head of research and consultancy Wong Xian Yang said the weak rental market and tepid economic outlook have continued "to exert downward pressure on prices despite improving sentiments".

    The central region recorded a 0.5 per cent decline in April, overturning a 0.8 per cent increase from February to March. The index defines this region as districts one to four, including the financial district and Sentosa Cove, as well as the traditional prime districts of nine, 10 and 11.

    The data excludes small units, which have a separate index. Prices for small apartments - those with a floor area of up to 506 sq ft - grew 0.7 per cent last month, down from a 1.3 per cent growth in March.

    Completed units in the non-central region dipped 0.7 per cent from March to April, reversing the 0.7 per cent increase in February to March.

    Since the price peak in July 2013 after the 2008 global financial crisis, prices have gone down 13.8 per cent. Mr Ong added: "Many property buyers still prefer to use or reserve total debt servicing ratio limits for a developer sale, which is generally more modern and well-designed."

    Mr Wong also noted the market is showing signs of bottoming out, as overall resale prices for the year to date - January to April - dropped only 0.3 per cent, compared with a 0.6 per cent dip in the same period last year. He added: "Interestingly, prices of shoebox units bucked the trend and continued to increase for two consecutive months. It is still unclear whether this increase is sustainable as the rental prospects for suburban shoebox units remain poor."

  2. #2
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    Default Prices of completed condos dip 0.6% in April: NUS

    Prices of completed condos dip 0.6% in April: NUS

    Faring the worst last month were completed units (excluding small units) in the non-central region

    May 30, 2017


    PRICES of completed private apartments and condominiums slipped 0.6 per cent in April, after rising 0.8 per cent in March.

    This is based on flash estimates by the National University of Singapore (NUS) for its overall Singapore Residential Price Index (SRPI) released on Monday.

    Faring the worst during the month of April were completed units (excluding small units) in the non-central region, whose prices fell 0.7 per cent.

    The central region is defined as districts one to four (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11 by NUS's Institute of Real Estate Studies, which minted the SRPI series

    Completed units (excluding small units) in the central region saw prices fall 0.5 per cent.

    Small units, defined as those with a floor area of 506 square feet or below, bucked the trend with a 0.7 per cent price increase in April, reflecting buyers' preference for more affordably-priced smaller-sized apartments.

    The data is reflective of transactions received as at May 22, 2017.

    Overall, the Residential Price Index is down 0.3 per cent this year, and down 2.4 per cent compared to a year ago.

  3. #3
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    When price dip doesn't buy, when the price goes up kpkb.

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