Friday, February 8, 2013

Non-landed private residential resale prices up 0.6% in January
By Lynda Hong | Posted: 08 February 2013 1523 hrs

SINGAPORE: Resale prices of non-landed private residential units inched up 0.6 per cent in January, compared to December 2012, according to flash estimates released by the Singapore Real Estate Exchange (SRX).

SRX compiles data from 11 top property agencies in Singapore.

It said resale prices of non-landed private homes in the city fringes rose 2.5 per cent to an average of S$1,256 per square foot in January, compared to December 2012.

Resale prices in mass market segment rose 1.1 per cent to S$997 per square foot.

In contrast, resale prices of private homes in the core central region saw a drop of 2.9 per cent month-on-month to $1,878 per square foot.

SRX noted that January 2013 saw a 16.7 per cent month-on-month increase in the volume of transactions for non-landed private residential homes.

Compared to the same period last year, the monthly resale volume of 920 units in January was almost triple the 309 units sold in January 2012. SRX said this was mainly due to the Lunar New Year holidays falling in January 2012.

Meanwhile, rental prices for non-landed private homes in January rose 1.2 per cent, compared with December 2012.

This was led by a 3.8 per cent increase in the city fringes, followed by a 0.9 per cent appreciation in the core central region. The mass market segment saw rentals decline by 0.6 per cent.

On the HDB resale market, SRX said cash-over-valuation (COV) was S$34,000 in January, a S$1,000 increase over December 2012.

Overall, median prices for HDB flats remained fairly stable at S$457,000 in January, down 0.7 per cent on-month.

SRX said its member companies recorded 1,201 transactions in the HDB resale market. An estimated 300 transactions for January are still being processed. This will likely result in an estimated 1,500 HDB resale transactions in January 2013, compared to the 1,560 monthly average in the fourth quarter of 2012.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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