Core Central Region resale index received a boost

Core Central Region (CCR) shows a uptrend in terms of property resales, with the SRX index of non-landed homes in the region up 4.7% year-on-year. For Rest of Central Region (RCR), the sub-index rose 0.6% over the same period while the suburbs Outside Central Region (OCR) drop 2.0%. CCR resale deals rose steadily over the past few months — 84 (Dec)/88 (Jan)/93 (Feb)/133 (Mar)/163 (Apr)/ 232 (May). The rise in resale volumes could be partly attributed to the developer sales at OUE Twin Peaks in the Grange/Leonie Hill Road. The developer has introduced two new payment schemes for the project. Another project, Ardmore Three, also contributed to the rise due to the discounts of 15% off the selling price as well as the rebate for the ABSD.

Projects that are delicenced, ie projects that received Certificate of Statutory Completion, are considered resale properties. Developers of such projects may roll out novel schemes to market their projects, as they are no longer bound by the Housing Developers (Control and Licensing) Act and rules.

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