Resale home prices continue to rise in Oct 2012!

Resale home prices of  non-landed private residential units  continued to climb in October against the third quarter 2012.

Data released by the Singapore Real Estate Exchange (SRX) showed that the unit resale price for non-landed private residential rose 4.1% in October to $1,209psf.

SRX compiles data from 11 top property agencies in Singapore.

The report found that resale prices of private homes rose across all regions, with non-landed homes in the city fringe seeing the sharpest increase at 4.5%, compared to the third quarter of 2012.

This is followed by a 4.2% increase in the suburban areas, and a 1.8% increase in the core central region.

SRX noted that the price gap between non-landed private homes in the suburban areas and those in the city has narrowed to a new low of 84.8%.

"I think the price premium between the CCR and OCR will continue to narrow in the next one year," said Eric Tan, the CEO of GSK Global.

"Subsequently, I think it will remain relatively stable at around 70% in the medium term."

Source: Channel News Asia