Private home resale prices fall for 4th month in December

rices of resale private homes fell for a fourth month in December as prices weakened by a further 0.2 per cent, according to the latest data from the Singapore Real Estate Exchange (SRX) which compiles data from property agencies in Singapore.

The city area saw the steepest decline at 2.3 per cent, followed by the suburban region, which dipped 1.0 per cent.

Resale prices of private homes in the city fringe bucked the overall trend by climbing 2.9 per cent.

An estimated 377 non-landed homes were resold in December, comparable to November’s 375 units sold.

Meanwhile, SRX said rental prices of non-landed private homes slipped 1.3 per cent in December, marking the fifth straight monthly fall for the sector.

All three regions saw rental price decreases in December, with the city area seeing the sharpest fall of 1.8 per cent.

Rents in the city fringe slipped by 0.9 per cent, while those in the suburban region fell 0.5 per cent.

Source : Channel NewsAsia – 13 Jan 2014

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