>

>

Prices of private units in the central region see fastest increase in 7 months

/ EdgeProp |

June 29, 2018 7:00 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

The price index of private residential units larger than 506 sq ft in the central region climbed 1.8% m-o-m in May. It is the fastest rate of monthly increase since November 2017, when the price index rose by 1.9% m-o-m. Comparatively, the price index for larger units in the non-central region climbed 1.3% m-o-m in May 2018.

This is according to the latest flash estimates by the National University of Singapore for its Singapore Residential Price Index (SRPI). The central region is defined as the traditional prime districts 9, 10, 11, as well as districts 1 to 4 covering the financial districts and Sentosa Cove.

The overall SRPI is 9.3% higher y-o-y and prices of units in the central region are up by 10% y-o-y. Demand for resale homes in the core central region and city-fringe areas is “fuelled by liquidity from investors and homebuyers who sold their properties through collective sales”, says Nicholas Mak, executive director at ZACD Group. Demand is expected to remain healthy for the next 12 months, and the overall SRPI could increase by 9% to 13% for the whole of 2018, he adds.

Additionally, the supply of new resale homes in the central region is limited, and the stock of available completed homes could reduce slightly in the short-term as developments sold in collective sales are demolished, says Mak.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Sapphire Windows’ Liews: Beyond providing a room with a view

2

Keeping cool in an east-west-facing house with modern glass windows

3

Far East Shopping Centre’s $908 mil en bloc deal aborted

4

World’s largest Mercure Hotel opens on Club Street

5

Luxury living in the new heart of Bukit Timah

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00