Friday, March 15, 2013

Resale home prices edged up 2.7% in February

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)

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