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Subscribe to this list via RSS Blog posts tagged in Resale

Resale Prices of Private Property Fall Further in June 2014

A tentative report by the Singapore Property Exchange showed that resale prices of private property dropped another 1.4% in June. Prices are at the lowest over the last 1 1/2 years since Dec 2012. Starting at the Core Central Region (CCR) and moving outwards through the Rest of Central Region (RCR) and Outside of Central Region (OCR), the prices fell 1.7, 3.2 and 0.3% respectively. The OCR prices dropped the least because the properties here have lower prices. The CCR and RCR properties have to deal with unsold units and curbs on resale such as ABSD. Encouragingly, the number of resale units that exchanged hands has increased 7.9% to about 452 units. 

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Fall in Non-Landed Resale Property Transactions in January 2014

The resale market for non-landed resale property as dropped in Jan 2014 when compared to December 2013. 

To quote a report in the Today paper on Apr 12, 2014, "An estimated 310 non-landed private homes were resold in January, a 9.1 per cent drop from December’s 341 resale transactions, according to data from the Singapore Real Estate Exchange (SRX). On a year-on-year basis, sales fell 70.2 per cent." 

On a year to year basis this is a drastic drop and reflects the overall bearish market sentiment brought about by the TDSR cooling measure. On a more positive note (or negative depending on your intentions), the same article stated, "According to the SRX Property Resale Index, overall resale prices of non-landed private residential units gained 2.3 per cent in January, marking the second consecutive monthly rise in prices."

For more browse to: http://www.todayonline.com/singapore/private-home-resale-market-sees-further-decline-transactions#inside

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HDB COV prices have been dropping over recent months. COV was $15000 and $12000 in September and October respectively and is predicted by some to fall to $10000 by year's end. HDB prices have dropped 1.6% in October compared with a small 0.2% gain in September which correlates with the rise in the number of resale HDB units in October, a 26.5% increase over September.

Over in the private residential market, resale prices declined only 0.1% from September. The suburban and central areas fell the most at 1.4 and 0.9% respectively vs a slight gain of 0.4% in the city fringes. Mirroring the increase in sales in the HDB market, 13.6% more units (486 units) exchanged hands in the resale market in October compared with September. This however is quite a drop compared to Oct 2012 when 1,435 unts exchanged hands. 

Both HDB and private residential markets have seen cooling measures introduced. HDB has capped the mortgate servicing ratio at 30% of the borrower's gross monthly income and reduced the tenure of loans to 25 years for HDB loans and 30 yrs for bank loans. Also, permanent residents are now barred from purchasing flats during the first 3 years after receiving PR status. The large number of new flats in the pipeline may also dampen the HDB resale market. For private residential properties, the total debt servicing ratio (TDSR) limits borrowers total debt obligation to 60% of gross monthly income and there is the additional buyer's stamp duty or ABSD have worked to dampen the market. For more details on the above, visit todayonline.com

For new private properties, many buyers are also staying in the sidelines as they perceive a bear market coming and are waiting for prices to drop. Units that are still moving tend to be the units in the lower quantum range as demonstrated by the success of the InFlora recently. Property developers have started to respond to market conditions by reducing prices.

 

Credit TodayOnline

Tagged in: ABSD cov hdb Resale TDSR
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Hilltop Grove Condo Resale Unit for sale at SGD1,088,880

Just posted a 99-year leasehold condo unit for resale. Its located in the Hillview area in a condo enclave but is next to a large expanse of green stretching all the way to Bukit Gombak. The unit on offer is a 1281 sqft unit and priced at 850 psf which is substantially lower than some of the new condos that are currently on sale for $13XX and above. Please see Hilltop Grove in the resale section of this website.

 

Hilltop Grove Condominium

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