PUBLISHED 24th March 2017
SINGAPORE – Overall home price of completed private homes drop 0.3 percent in February contrasted with the past month to month, subsequent to creeping down a revised 0.1 percent in January, an assessments of the NUS Singapore Residential Price Index (SRPI) appeared on Tuesday (March 28).
Set aside small units, costs of non-landed units in the central region declined 1 percent month on month, toppling a 0.5 percent increment in the previous month. Then again, prices in the non-central region edged up 0.3 per cent, reversing a 0.6 per cent fall previously.
The central region properties are located in districts 1 to 4 and 9 to 11, while units in the other districts fall under the non-central region.
The sales of small units below 506 sqft has slow a decline 0.6% as compared to previous month 0.5%.
While sentiment may have improved since the start the year, the uplift is more noticeable for developer sales rather than for resale properties, where buyers remain fairly cautious, said Mr Ong Kah Seng, director of R’ST Research.
“Buyers overall are anticipating major project launches in 2017 that will be offered at attractive prices after Chinese New Year, or projects that were launched in 2015 and 2016 where prices may be cut to clear stock,” he said.
Some of the completed projects which are offered at an attractive discount package include: 26 Newton, a freehold residential development at Newton, walking distance to Novena and Newton MRT. Pollen & Bleu, which offered ABSD cash rebate. Marina Blue, the Peak at Cairnhill with ABSD and deferred exercise scheme, which allow investor to earn rental income immediately.
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