Prices of private resale homes up in April

Private resale homes prices has risen for the second straight month in April.

This is according to the Singapore Residential Price Index (SRPI) flash estimate published by the Institute of Real Estate Studies at the National University of Singapore.

Resale home prices climbed 0.8 per cent in April, after increasing 0.4 per cent in March.

Central area prices were up 1.6 per cent in April, compared to just 0.1 per cent increase in March.

Prices in the non-central region remain unchanged.

Property experts said the uptick in prices could be a result of higher transaction volume in the secondary market in March and April.

In an interview with Channel NewsAsia, Donald Han, special advisor at HSR said: “The secondary market volume is picking up, especially after the run-up in new home sales in the first quarter. Primary market prices have gone up and some buyers may think that they can get better value in the secondary market.”

Analysts in all said the performance of the resale market this year will also depend on the health of the global economy, especially with the lingering debt issues in the Europe.

COMMENTS