Resale prices of private non-landed homes jumped 13.4% on-year in the fourth quarter last year, according to flash estimates put out by the Singapore Real Estate Exchange (SRX).
SRX compiles data from 11 top property agencies in Singapore.
It said non-landed private resale home prices continued its uptrend to hit $1,233psf in the fourth quarter (Q4), compared to $1,157psf in the third quarter (Q3) in 2012.
Resale units in the mass market segment led the gain with a 4.8% increase over Q3, while those in the city fringes saw prices climb 3.6%.
But it was the core central region which saw a higher-than-expected growth of 4.6% in Q4.
SRX said this was due to the city area's strong performance in December.
Average private resale home prices in the city area surged 8.8% to $1,899psf in December, over November's average of $1,746.
SRX said the strong growth is partly attributed to a possible record breaking price paid by Hong Kong's Swire Properties for all 12 units in the en bloc sale of Hampton Court located at the corner of Draycott Park and Draycott Drive
Meanwhile, resale transaction volume of non-landed private homes showed a seasonal drop of 5.5% in Q4 compared with Q3.
But transaction volumes in the city area bucked the trend by reporting a 7.3% increase. Volumes in city fringes and mass market segments fell by 11% and 4.6% respectively.
For the full year, 12,500 units were transacted in the private resale non-landed market - a 7% drop compared to 2011.
SRX said this can be attributed mainly to the weak performance in the first half of the year, which saw a 27.3% plunge in transaction volumes after the additional buyer's stamp duty was introduced.
But the trend was reversed in the second half of the year with a 20.1% jump in the number of units transacted compared to a year ago.
SRX compiles data from 11 top property agencies in Singapore.
It said non-landed private resale home prices continued its uptrend to hit $1,233psf in the fourth quarter (Q4), compared to $1,157psf in the third quarter (Q3) in 2012.
Resale units in the mass market segment led the gain with a 4.8% increase over Q3, while those in the city fringes saw prices climb 3.6%.
But it was the core central region which saw a higher-than-expected growth of 4.6% in Q4.
SRX said this was due to the city area's strong performance in December.
Average private resale home prices in the city area surged 8.8% to $1,899psf in December, over November's average of $1,746.
SRX said the strong growth is partly attributed to a possible record breaking price paid by Hong Kong's Swire Properties for all 12 units in the en bloc sale of Hampton Court located at the corner of Draycott Park and Draycott Drive
Meanwhile, resale transaction volume of non-landed private homes showed a seasonal drop of 5.5% in Q4 compared with Q3.
But transaction volumes in the city area bucked the trend by reporting a 7.3% increase. Volumes in city fringes and mass market segments fell by 11% and 4.6% respectively.
For the full year, 12,500 units were transacted in the private resale non-landed market - a 7% drop compared to 2011.
SRX said this can be attributed mainly to the weak performance in the first half of the year, which saw a 27.3% plunge in transaction volumes after the additional buyer's stamp duty was introduced.
But the trend was reversed in the second half of the year with a 20.1% jump in the number of units transacted compared to a year ago.
Source: Channel News Asia
Cooling measure annouced @630pm 11 jan 2013
ReplyDeleteI'm a PR, and is waiting to buy a unit for long stay here in singapore. Been working here for the last 15 years. Now with the ABSD, it's now getting harder to own a unit here. I do not buy to speculate but for own stay. This is not a good news. :(
ReplyDeleteSingapore is land scarce, so whatever remaining land has to be reserved for Singaporeans. Why don't u covert yr citizenship to Singapore?
ReplyDeleteSo everyone go to hk must also convert to hk? Use ur brain. Pr canmot buy, u thk sgporean can buy too? Use ur brain again. Did u buy any for investment ? You are also drooling. Pls note Im sgporean
ReplyDeleteTo annoy-imous @ 12/1/13 12.14pm,
ReplyDeletehello, we are talking abt buying properties in other countries! bird-brained! if that country says PR & foreigner cannot buy property, you cannot buy la! go back to your own country & buy la! and yes i bought 2 properties for investment. im sporean.
Can buy a few properties. Just P A P . Pay and Pay more additional stamp duty. Th all.
ReplyDeleteMoney makes the world go round and solves problems.
U sure u hv two properties? talk is cheap cheap. U know i'mtalking about u. Similang
ReplyDeleteThe question to VL is still unanswered. After 15 years (not a short stint) working in Singapore, if he is really sincere in buying a Spore property so that he could (so-call) "stay" & be rooted in Spore, why doesnt he convert his citizenship to Spore??? I think it's really simply the case he wants the best of both worlds.
ReplyDeleteask him to go back. I know another few boreigner just got EP...talk is cheap lah.
ReplyDeleteWhy should VL be converted to Singapore citizen? I have studied and work in UK, total 20 years, and yet I still come back to Singapore. Did I convert to UK citizenship? No.
ReplyDeleteThe problem with this measure is not about citizenship or not, it is affecting all of us, Singaporean too. Want to have another property to generate passive income is now a dream in the sky. We can only suck thumb while other cash rich buy and buy.
generate passive income also has its risk...the purchase px mayb high whiles values may fall too.
ReplyDeleteWow I can't believe that Singaporeans actually are ok with PRs buying up Singapore properties?! Wow.. I think I must let Mr Khaw look at this blog!! And stop all the cooling measures - just let foreigners, PRs buy buy buy up Singapore properties without the need to convert to citizenship!!
ReplyDeleteTrust me, if all foreigners in UK start to buy up UK properties, u think the masses won't protest? U think the Queen will allow it? All countries are the same - they'll protect their own citizens first! Now JB is already restricting foreign buyers..
ReplyDeleteAiyo didnt know forummers in this blog are so bird-brained! U work for yr Uncle doesn't mean u can also takeover his house... Same thing la.. U work in other country of coz no need to convert citizenship, but if u want to buy a piece of land/property there, then of coz depend on the country rulings!
ReplyDeletemany sour graping cheongster here
ReplyDelete