Tag Archives: resale

Volume increase but price decrease for private residential homes resale

The number of private home resale transactions was a 7.9 per cent increase over May, but prices fell by 1.4 per cent in June, according to the Singapore Real Estate Exchange.

Resale prices for non-landed private residential homes continued to fall in June, reaching a 1.5-year low, according to the latest report by the Singapore Real Estate Exchange (SRX) on Monday (July 14).

Overall resale prices fell 1.4 per cent month-on-month to hit an 18-month low, with prices at their lowest since December 2012, according to the SRX Flash Report. Compared to the price peak in January this year, June prices are 4.7 per cent lower.

Prices fell for all three regions – Rest of Central Region (RCR), Core Central Region (CCR) and Outside Central Region (OCR) – with the city fringe area leading the fall by 3.2 per cent. This was followed by the core central area and the suburbs, which dropped 1.7 per cent and 0.3 per cent, respectively, SRX said.

The majority of districts – or 15 of 24 districts – saw zero or negative median Transaction Over X-value (TOX) in June. For districts with more than 10 resale transactions, districts 15 (Katong, Joo Chiat and Amber Road) and 10 (Bukit Timah, Holland Road and Tanglin) had the lowest median TOX at negative S$50,000 and negative S$37,000, respectively.

The number of resale transactions went up though, registering a 7.9 per cent month-on-month growth to reach an estimated 452 deals in June. Resale volume has gone up by 53.7 per cent since the beginning of year, the report said.

In terms of rental deals, prices slipped 0.8 per cent compared to May while volume went up 2.2 per cent over the same period. An estimated 3,151 whole units were rented out last month, according to SRX.

http://www.channelnewsasia.com/news/business/singapore/more-deals-done-but/1262214.html

HDB prices fall

http://www.channelnewsasia.com/news/singapore/hdb-resale-prices-fall-to/1251928.html?cid=FBSG

The resale prices for Housing and Development Board (HDB) flats fell to a two-year low after it slipped 0.6 per cent month-on-month in June – the fifth consecutive months of declines, according to the Singapore Real Estate Exchange.

According to the SRX HDB flash report released on Thursday (July 10), the price drop affected 3-, 4- and 5-room flats, which saw a price decline of 0.6, 0.8 and 0.3 per cent, respectively, compared to May. Executive flats, however, saw a rise in price by 1.3 per cent.

June’s HDB resale prices marked a new two-year low since April 2012. Compared to the peak in April 2013, prices for resale flats have declined by 6.8 per cent, SRX said.

In June, 1,315 HDB flats were sold, five less than the 1,320 transacted units in May, SRX added.

Rental volume and prices also fell for June. An estimated 1,590 HDB flats were rented out in June, and this was a 2 per cent decrease from May’s 1,622 units. Rental prices fell 1.1 per cent on-month, reaching a new low since January 2012, the report stated.

TOX STILL NEGATIVE

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying the SRX estimated market value, remained at a negative S$4,000 for June.

The majority of HDB towns – 18 out of 26 estates – saw negative median TOX in June. Among HDB towns with more than 10 transactions, the lowest median TOX are in Hougang, Punggol and Sembawang, at negative S$9,000, negative S$8,100 and negative S$8,000, respectively.

Bucking the trend is Geylang, which was the only town with a positive median TOX of S$1,500, SRX said.