Singapore Business Review
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
Published: 13 Mar 2013
But CCR units dropped 4.7%.
According to SRX, prices of resale, non-landed private residential units increased 2.7% in February 2013 when compared with January 2013.
Rest of Central Region (RCR) and Outside Central Region (OCR) gained 3.5% and 5.1% in February (over the previous month) to reach an average PSF of $1,272 and $1,046 respectively.
In contrast, Core Central Region (CCR) saw a decline of 4.7% month-on-month to reach an average PSF of $1,788.
Besides RCR and OCR prices hitting a new historical high, OCR's average price also broke through a psychological level (of resistance) of $1,000 psf for the first time.
Despite price gains, resale volume during the Chinese New Year (CNY) month of Feb 2013 fell by more than 50% compared to Jan 2013. According to flash figures, there were only 325 resale transactions in Feb. However, February 2013 (CNY) outperformed January 2012 (CNY)
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)