Tuesday, May 01, 2012

Resale private homes prices up in March

SINGAPORE: Prices of resale private homes climbed by 0.8 per cent in March, after falling by 1.6 per cent in the previous month.

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

NUS' Institute of Real Estate Studies says it noted an improvement in the housing transactions volume in March and it is possible that the market may be shaking off the impact of the cooling measure which was introduced last December.

It adds that the SRPI figures showed that while houses prices softened in January and February, prices have shown a slight rebound in March.

In particular, resale prices of small apartments rose most sharply.

The SRPI for March showed that prices for small units with floor area of 506 square feet and below increased by 2.8 per cent in March, compared with a 0.8 per cent decline in February.

Excluding small units, prices of resale private homes in the central area were higher by 0.8 per cent, while those in the non-central regions rose by 0.7 per cent.

These were much higher than February's numbers.

In February, the SRPI for resale units in the central area was down by two per cent while units in the non-central area fell 1.2 per cent.

- CNA/fa

View the original article here

Source From Channel News Asia

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