>

>

Private home prices slipped 0.5% in 1Q2017

By Tan Chee Yuen

/ The Edge Property |

April 3, 2017 11:00 AM SGT

Private home prices continued to fall for a 14th consecutive quarter, shedding 0.5% q-o-q in 1Q2017, according to the Urban Redevelopment Authority's (URA) latest flash estimates. It was the same rate of decline as the previous quarter.

Prices of non-landed homes in Core Central Region (CCR) was back in the red with a 0.2% decline in 1Q2017 as opposed to a 0.1% increase in 4Q2016. Those in Rest of Central Region (RCR) remained unchanged in 1Q2017, following a 2.0% dip in 4Q2016. In Outside Central Region (OCR), prices bucked the trend, inching up 0.1% in 1Q2017, after a 0.6% decline in 4Q2016.

"The buoyant OCR primary market helped to firm prices in the suburban non-landed market in 1Q2017," says Ong Teck Hui, national director of research and consultancy at JLL.

Ong expects positive buying sentiments seen in the first quarter to continue with the market remain upbeat. "Healthy sales volume would eventually lead to prices stabilising especially in the non-landed market although short term fluctuations in the indices may be expected," adds Ong.

In the public housing segment, prices of resale flats fell for second consecutive quarter with a 0.6% decline in 1Q2017, following a 0.1% q-o-q dip in 4Q2016.

"This could possibly be an one off occurrence," according to Eugene Lim, key executive officer at ERA Realty Network. He notes that the main cause could be the low volume of resale transactions seen over the January and February period due to the Chinese New Year season.

Lim remains optimistic that the HDB resale market has largely stabilised. He expects HDB resale transaction volume to increase to about 22,000 to 23,000 units in 2017, with prices edging up slightly by 0.1% to 0.5% for the full year.

In May 2017, HDB will roll out about 4,600 Build-To-Order (BTO) flats Woodlands, Yishun, Bidadari and Geylang. HDB also plan to offer about 3,000 balance flats.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

Is it a Good Deal?: A 99-year leasehold three-bedder in Bedok sold for $1,098 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00