Prices inched up by 0.1% in October from September, according to flash estimates from the NUS Singapore Residential Prices Index.
Values of private properties rose 0.1% in October after an increase of 0.3% in September, according to flash estimates from NUS Singapore Residential Price Index.
This was due to increasing buyer interest in resale properties over the previous 6 months as developers cut back on launches. There were 1,400 non-landed private homes resale transactions in the third-quarter with a total value of $2.66 billion, an increase from the 1,152 resale transactions valued at $1.91 billion in the same period last year.
The modest increase was largely supported by a 0.3% increase in prices of completed non-landed private homes in the central region – defined as those in districts 1 to 4 and 9 to 11, which experienced a 0.3% drop back in September.
Prices of those homes outside the central region did not change in October after rising 0.6% in September. Also, prices of small units – those with sizes up to 506 sq ft – experienced a drop of 0.6% in October, following a decrease of 0.7% in September.
Property experts expect slight price fluctuations each month, but the general trend will still be downwards on the back of increasing home completions.
Read more at Straits Times.
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