Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Tuesday, 9 June 2015

Resale prices of private apartments stay flat in May, 2015

Resale prices of private apartments stay flat in May, 2015

Resale prices of private apartments stay flat in May, 2015

http://propertysmartinvestors.blogspot.sg/2015/06/resale-prices-of-private-apartments.html
RESALE prices of private apartments flatlined last month, but experts expect further falls. May values barely moved from those in April after a decline of just 0.2 per cent from March to April.

Overall, they are down 2.8 per cent from a year ago, according to flash estimates out yesterday for the SRX Property's price index.

"Prices have not varied much from about November... Any changes for the next six to 12 months are likely to be range-bound," said Mr Nicholas Mak, SLP International's executive director of research and consultancy. Even any rollback in cooling measures might have limited upside, he added.

 "It is unlikely cooling measures will be relaxed substantially, and the global investment climate has worsened with uncertainty in Europe over Greece and expectations of a US interest rate hike later this year."

Yesterday's data tells a mixed story: Resale prices fell an estimated 1.2 per cent in the central region in May over April, but rose 0.8 per cent in the city fringes and 0.3 per cent in the suburbs.

Resale volumes are expected to improve with an estimated 543 units sold, a 4.2 per cent increase from April and 33.1 per cent up from May last year.

Resale volumes have been gradually increasing all year, said Mr Eugene Lim, ERA Realty key executive officer, noting that buyers have been turning to the secondary market due to attractive prices and fewer launches of new projects. "Should current momentum hold... we may expect around 6,000 resale units changing hands this year, about 20 per cent more than last year's total resale volume."

While there are signs of a resale market revival, it is not evenly spread, said Dr Tan Tee Khoon, Knight Frank executive director of residential services. "There has been some movement in the prime districts, as prices have fallen for a long time and (these properties) become value purchases for buyers on the hunt for attractive deals," he added.

In contrast, resale prices in the suburbs may still have some way to fall as the weakening leasing market takes its toll, experts said. However, the price fall for the segment could be mitigated by the fact that suburban condo units completed from about 2013 are smaller and with higher per-square-foot prices, noted Mr Ong Kah Seng, R'ST Research director.

Overall, private property prices are tipped to ease by 3 to 6 per cent this year.

The Straits Times/ Money                          Published on Wednesday, 10 June 2015

By Rennie Whang                                      wrennie@sph.com.sg

Resale prices of private apartments stay flat in May, 2015

Please click the following for other Related Readings:






Sales of 2 condos at Sentosa Cove raise hopes of rebound

Corridors of discontent at Pasir Ris One

Freehold redevelopment site in Katong up for tender

33 Parklane basement units for sale

Warehouse market faces challenges in short term: Reit boss

Slower sales, fewer visitors hit Q2 shop rents

$483m top bid for private home site in Queenstown

More details of new HDB scheme revealed

Pasir Panjang Terminal's $3.5b expansion kicks off

Eye on Lavender: Transformation in progress

Centrale 8 in spotlight over defects

Private home prices 'could fall another 10% in next 2 years' 

Buy resale flat near parents? Financial help is key: Experts

Private home sales up but prices down
E
Dawson's SkyVille and SkyTerrace projects are raising the bar for stylish public housing 

In pictures: Stylish BTO projects at Dawson's SkyTerrace and SkyVille

24% apply for BTO flats under schemes to help families live closer together: Minister Khaw Boon Wan 

Singapore surprised by Malaysian transport agency stating preference to end high-speed rail in Johor

Malaysia's transport agency says CEO misquoted on high-speed rail 




Rail improvements to put SMRT on fast track
















Lakeside project launched in Iskandar

Developers face hefty extension charges over unsold units (Amended)

Govt releases new developer rules on show units, sales data

Changes to Housing Developers (Control and Licensing) Act effective May 25

Government releases EC site in Choa Chu Kang for sale



More companies buying strata offices

Bids for Paya Lebar site likely to top $1b - Government Land Sale (GLS)

Please see Related Issues :

My Tribute to Mr Lee Kuan Yew - Remembering Lee Kuan Yew - The world should know his stories, his contribution and his final journey - The Legend - He will be in the heart of every Singaporean 




No comments:

Post a Comment