SINGAPORE - Private home resale prices slipped 0.1 per cent in October from the preceding month, mainly due to a price decline in the suburban region, flash estimates from the Singapore Real Estate Exchange (SRX) showed on Friday.
Here is the full report from SRX:
Resale prices of non-landed private residential units softened by 0.1 per cent in October 2013.
The overall price drop was led by Outside Central Region's (OCR) 1.4 per cent drop, followed by Core Central Region's (CCR) prices slipping 0.5 per cent. On the flip side, Rest of Central Region (RCR) saw price gain of 0.4 per cent.
An estimated 486 non-landed homes were resold in October, a 13.5 per cent improvement from September's 428 units sold. HOWEVER, on a year-on-year basis, this represents a more than 50 per cent drop from the 1,435 units transacted in October 2012;
Non-landed Private Residential Rental:
Based on the non-landed residential rental SPI sub-index, overall rental prices for non-landed private residential in October dropped by 1.5 per cent from September, representing the lowest rental price level since June 2012.
This represents a drop of 4.2 per cent since the rental price peak in January of this year;
On a regional basis, rental prices in the CCR and OCR softened by 1.3 per cent and 1.9 per cent respectively, while RCR's rents remained flat;
HDB Resale and Rental:
Overall HDB Cash-Over-Valuation (COV) dropped another $3,000 in October to reach $12,000 - the lowest since July 2009, when the overall COV was $10,000;
Overall HDB resale prices slipped 1.6 per cent in October, following a slight gain of 0.2 per cent in the preceding month. This represents a 2.8 per cent drop from the price peak in January of this year;
According to flash estimates, 1,318 HDB flats were sold in October's resale market, a 26.5 per cent rebound from September's 1,042 resale cases. HOWEVER, on a year-on-year basis, October resales volumes represented a 20 per cent drop from the same period in 2012.
An estimated 1,506 HDB flats were rented in October 2013, up by 7.7 per cent compared to September.
Friday, Nov 08, 2013
The Straits Times
Source: AsiaOne