Connect with Us     


Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Q4 resale prices of private homes up 6.6%

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 40677
  • Subscribe to this entry
  • Print
Resale prices of non-landed private residences grew at a faster pace last year despite a fall in transaction volumes from the year before.

Buyers paid an average of $1,233 per square foot (psf) in the fourth quarter of 2012, the Singapore Real Estate Exchange (SRX) said yesterday. That was 6.6 per cent higher than the third quarter's $1,157 psf.

That means prices rose 13.4 per cent last year compared with the previous year, and outpaced the 10.4 per cent growth in 2011.

This was despite fewer units changing hands. About 12,500 private non-landed homes were sold in 2012, down 7 per cent from 2011.

SRX put the drop down to the introduction of the additional buyer's stamp duty in late 2011, which led to a slump in the first half of 2012 even as sales picked up strongly afterwards.

The fourth quarter's figures reflected the trend for the full year.

Resale prices rose across all the regions. The Outside Central Region (OCR) saw the biggest increase of 4.8 per cent. The Core Central Region (CCR) followed with 4.6 per cent, while the Rest of Central Region (RCR) was up by 3.6 per cent.

CCR's higher-than-expected growth came down to its December performance, which pushed up the final figures.

"The strong growth is partly attributed to a possible record breaking price paid for residential land by Hong Kong's Swire Properties in Hampton Court en bloc," SRX said.

The Business Times previously reported that Swire's purchase - thought to be worth $155 million - is believed to have set a new unit land price for residential land of $2,526 psf per plot ratio.

Meanwhile, transaction volumes fell 5.5 per cent in the fourth quarter from Q3, a "seasonal drop", SRX noted.

As for the rental market for non-landed private homes, rates softened in the fourth quarter of last year, falling one per cent to $3.91 psf from the previous quarter. This dragged rental yield down to 3.8 per cent, from 4.1 per cent in Q3.

Analysts expect a moderation in growth for the resale private non-landed home market in 2013.
On the public housing front, there was little sign of relief from a bouyant resale market.

SRX said the median cash- over-valuation (COV) for resale Housing and Development Board (HDB) homes rose to $34,000 in the last three months of 2012, up $4,000 from Q3. As a result, the median price for an HDB resale flat hit a new high of $455,000, 1.1 per cent higher than the previous quarter.

Median rents for HDB homes stayed flat at $2,400 per month.

Credit from Business Times - 12 January 2013
Rate this blog entry:


To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!

With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.

My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

Phone Support



We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum



Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum