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Property News10 Jul 2018

Private Resale Non-Landed Prices Up 10.6% in Year-on-Year; Volume Goes Down by 25.5% Month-on-Month

NLP Resale Jun 18 01


1. Non-landed Private Residential Resale Prices increased 0.2% in June 2018.

According to the SRX Non-Landed Private Residential Price Index:
  • Year-on-year, prices in June 2018 increased by 10.6% from June 2017. In individual sectors, CCR, RCR, and OCR recorded a year-on-year price increase of 10.9%, 11.6%, and 9.4% respectively.
  • June 2018 prices were up by 1.5% from the previous peak in April 2018.
  • The price change was revised from 1.2% to 1.3% in May 2018.
  • Overall and CCR prices continue to increase in June 2018.
  • Quarter-on-quarter, prices have increased by 3.8% from Q1 2018. The quarter-on-quarter calculation is based on the index average of three months in the Second Quarter of 2018 and that of the preceding quarter.



2. Resale volume decreases by 25.5%.
According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,128 Non-landed Private Residential resale units were resold in June 2018.
This is a 25.5% decrease compared to 1,514 units resold in May 2018.
  • Year-on-year, resale volume in June 2018 was 4.6% higher compared to 1,078 units resold in June 2017;
  • Resale volume was down by 45.0 % compared to its peak of 2,050 units resold in April 2010.



3. Overall median Transaction Over X-Value (TOX) is POSITIVE $17,000 in June 2018.
The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
The median T-O-X for June 2018 is POSITIVE $17,000. It is a decrease of $1,000 comparing to POSITIVE $18,000 T-O-X for May 2018.


4. District 21 posts highest median T-O-X. For districts with more than 10 resale transactions in June 2018, District 21 (Upper Bukit Timah, Ulu Pandan) posted the highest median T-O-X at POSITIVE $70,000.

This suggests that a majority of the buyers in that district purchased units above the computer-generated market value.


5. Among relatively active districts, District 26 posts the most negative median T-O-X.
District 26 (Upper Thomson, Springleaf) posted a T-O-X of NEGATIVE $12,000.

This suggests that a majority of the buyers in that district purchased units below the computer-generated market value.
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Property News 19 July
Kentish Green up for collective sale at $230m
Kentish Green in Oxford Road has joined the bandwagon of developments here trying for a collective sale. The owners have set a reserve price of $230 million for the 59,143 sq ft site.
Property News 18 July
Heftier stamp duty a big setback for property sector: Redas chief

The imposition of heftier Additional Buyer's Stamp Duty on developers is "a big setback for the property market in Singapore", Real Estate Developers' Association of Singapore (Redas) president Augustine Tan said yesterday.

Referring to the Government's recent cooling measures, which included tightened Loan-To-Value (LTV) ratios, he said the changes have raised the cost of home ownership and cooled demand from investors and foreigners, while possibly eroding the confidence of developers, investors and buyers.

Property News 17 July
Private home sales slump adds to property gloom

These are testing times for property watchers given a sales dive last month, a likely spike this month as buyers rushed to beat the cooling measures, and hints of a slump as wary home-seekers weigh their options.

Last month's severe drop in transactions will draw the most attention: Developers sold just 654 private homes, 41.7 per cent lower than in May and 20.2 per cent below the same month last year.

Property News 16 July
New private home sales in June fall over 40% from May, down 20% year on year

SINGAPORE - Subdued sales in new residential launches in the month of June resulted in over 40 per cent fewer homes being sold by developers than a month ago.

Buyers took up 654 new private residential units in June, 41.7 per cent lower than a month ago and 20.2 per cent less than a year ago, according to according to preliminary data from the Urban Redevelopment Authority (URA) on Monday.

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