Resale prices of Singapore's non-landed private homes edged up 0.3 percent in March compared with the previous month, according to a flash estimates released by Singapore Real Estate Exchange (SRX Property) on Tuesday.
Resale prices in the Outside Central Region increased 1.3 percent, resale prices of units in the Rest of Central Region went up 0.1 percent, while those in the Core Central Region fell 1.7 percent. On a year-on-year basis, resale prices were down 1.2 percent. Prices in March was a 7.3 percent decline compared with the recent peak in January 2014.
SRX Property said resale volume of non-landed private residential units increased 47.6 percent compared with that of the previous month, with an estimated 577 units resold in March.
While on a year-on-year basis, resale volume was up 19 percent. The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property' s estimated market value, decreased to -10,000 Singapore dollars(- 7,407 U.S. dollars), said SRX Property.
Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in public housing units built and sold by the government. The private homes are typically more expensive than public housing units.
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