Monday, September 8, 2014

August 2014 private resale/rental: Resale prices up, rental prices down


Resale prices of non-landed private homes in August rose 0.4% month-on-month, according to flash estimates from the Singapore Real Estate Exchange (SRX) on Monday (Sep 8).

Still, when compared with August 2013, resale prices of non-landed private homes have dropped 5%. Compared with the recent peak in January 2014, prices have declined 5.3%, SRX said.

Resale prices of private homes in the Core Central Region rose the most last month, rising 4.8% compared with July. In the Rest of Central Region, prices were up 1.5%. In comparison, resale prices in Outside of Central Region fell 1.1%.

Resale volume remained flat, with 418 non-landed private homes resold in August, similar to the 417 transacted units in July.

 

The overall median Transaction Over X-value (TOX), which measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value, remained at negative S$10,000 last month, up from negative S$20,000 in July.

For districts with more than 10 resale transactions, districts 15 (Katong, Joo Chiat, Amber Road), 23 (Bukit Panjang, Choa Chu Kang) and 16 (Bedok, Upper East Coast) posted the lowest median TOX at -S$40,000, -S$38,000, -S$30,000, respectively.

Conversely, district 11 (Watten Estate, Novena, Thomson) had the highest median TOX of S$50,000, followed by district 18 (Tampines, Pasir Ris) and district 25 (Kranji, Woodgrove) with S$16,000 and S$9,000, respectively.
 

RENTAL VOLUME UP, PRICES DOWN

As for rental transactions, the number of non-landed private homes rented out last month was 3,539 – a 3.6% increase from July. Year-on-year, rental volume improved by 25% from the 2,831 contracts signed in August 2013, according to SRX.

However, rental prices continued their fall, slipping 0.6% from the previous month – the seventh consecutive month of decline.

The decline was greatest in the Core Central Region at 2%, while prices in the Outside Central Region fell 1.1%. Prices in the Rest of Central Region, however, rose marginally by 0.4%. 
 
Source: CNA
 
 

5 comments:

Anonymous said...

Home prices here could fall 20 per cent by 2016, depending on how the Government moves on its economic restructuring policies and property cooling measures, Bank of America Merrill Lynch has said in a new report. -- -
See more at:
http://www.straitstimes.com/news/business/economy/story/ageing-population-restructuring-could-weigh-property-prices-bofa-merrill#sthash.tu8HLJBj.dpuf

Anonymous said...

Home prices ‘to fall 20% by 2016 on restructuring, curbs’: report

http://www.channelnewsasia.com/news/singapore/home-prices-to-fall-20-by/1354620.html

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