Singapore Resale Condominium prices still flat

DTZ Research said prices of non-landed resale homes (condominiums) remained largely unchanged in Q4 this year.

For freehold non-landed Singapore condominiums in prime districts was up 0.4 per cent while the average resale price of leasehold condominiums in Singapore suburb areas still firm at S$660 per sq ft (psf).

The price increases of 18 per cent for suburban areas and 36 per cent in the prime districts over the past seven quarters imply that the rate of price increase is stagnating while prices for leasehold and freehold resale condominiums have surpassed their previous peaks in 2007.

This may be due to the Government’s Aug 30 cooling measures, resulting in buyers being more selective and opting for projects closer to MRT stations, schools or the central business district.

Landed properties sang a different tune, as they saw a surge after slow movement in the previous two quarters.

Prices for freehold units in prime districts rose 5.1 per cent to $1,693 psf on average, compared to the 2 per cent growth during the same time last year. Outside the prime districts, prices grew 4.3 per cent to an average of $993 psf, compared to the 1.7 per cent increase a quarter ago.

Source: www.straitstimes.com

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