Saturday, Sep 08, 2012
The property market has seen an increase in the prices of resale homes and rental rates, the Singapore Real Estate Exchange said yesterday. Both public and private housing segments fared well in August, with private resale prices up 4.5 per cent from July and 1.8 per cent for HDB flats.
The average price of resale housing in the private market was up 1.2 per cent from Q2 to $1,134 per sq ft (psf).
Rental rates for condominium units increased by 2.4 per cent as well.
The median price of HDB homes also rose by 1.8 per cent to $448,000, which is a new high for the segment. Rental rates for HDB flats rose 4.3 per cent from $2,300 to a $2,400 average.
In a Straits Times article, analysts were quoted as saying that buyers have become more interested in the resale market as they are looking for alternatives to the high prices set by recent developer launches.
New launches were also credited for raising the prices of resale homes around them.
A number of resale flats have made headlines recently for the high prices they commanded, including a $980,000 maisonette in Bishan and a $1 million flat in Queenstown.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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