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Thread: New high for resale prices of non-landed property in Oct-Nov

  1. #1
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    Default New high for resale prices of non-landed property in Oct-Nov

    New high for resale prices of non-landed property in Oct-Nov
    Posted: 07 December 2012 1256 hrs




    SINGAPORE: Resale home prices of both non-landed private residential units and HDB flats continued to climb to new highs in October and November against the third quarter 2012.

    But according to data released by the Singapore Real Estate Exchange (SRX), the rental market for private homes is showing signs of softening.

    As a result, overall gross rental yield dropped to a six-year historic low of 3.77 per cent in the first two months of the fourth quarter.

    Meanwhile, prices of private resale homes rose to S$1,222 per square foot (psf) in the first two months of the fourth quarter, up 5.4 per cent from the previous quarter's average of S$1,159 psf.

    The report found that resale prices of private homes rose across all regions, with non-landed homes in the suburban region seeing the sharpest increase at 4.5 per cent, compared to the third quarter of 2012.

    This is followed by a 3.3 per cent increase in the city fringes and a 2.8 per cent increase in the core central region.

    Compared with the first two months of the third quarter this year, transaction volume rose by 6 per cent to reach 2,483 resale transactions in the October to November period.

    Meanwhile, the average unit monthly rent of private homes dropped by 1.0 per cent, from S$3.88 psf in the third quarter to S$3.84 in the first two months of forth quarter.

    Leading the drop is non-landed homes in the city fringe where prices fell by 2.5 per cent to S$3.91 after rising for the first three consecutive quarters in this year.

    The other regions remained relatively stable compared to the previous quarter.

    Meanwhile, the report included for the first time data about the sales of small private apartments, commonly known as shoebox units in Singapore.

    Year-to-date, just 198 shoebox units changed hands in the resale market.

    But the report said there was strong demand for rentals of shoebox units, with 1,328 rental contracts signed this year. This represents 6.7 times more rentals than resales for shoebox units year-to-date. In contrast, the average is 2.4 times more rentals than resales for other types of units.

    As a result, shoebox units continue to draw higher rental offers in the fourth quarter.

    In the HDB resale market, SRX said overall cash-over-valuation rose to S$34,000 in the first two months into forth quarter. This is S$2,000 shy of the five-year historical high of S$36,000 attained in the third quarter of 2011 since tracking began in 2007.

    On a month-to-month basis, overall COV increased from S$33,000 in October to S$35,000 in November.

    This has contributed to a 1.1 increase in median prices of HDB flats to a new high of S$455,000, compared to the third quarter.

    Overall HDB median rents remained unchanged at S$2,400.

    - CNA/ck

  2. #2
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    rental yield on the way to 3% - tick
    HDB cov on the way up - tick
    HDB 1m will slowly be the norms than exception - tick
    MM rental continues to go up - tick
    MM is the future - tick
    nothing below 1000psf - tick
    near MRT min 1400psf - tick

    Ride at your own risk !!!

  3. #3
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    11月广州住宅均价涨9.8% (month on month) 创两年新高
    Ride at your own risk !!!

  4. #4
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    Condo resale prices may reach historic high in fourth quarter




    By melissa tan

    The last quarter of the year is shaping up to be a strong one for the property market, with condominium resale prices already at a historic high for the first two months.
    The average condo resale price rose to $1,222 psf for October and November, the Singapore Real Estate Exchange said yesterday.
    This was 5.4 per cent higher than the $1,159 psf average recorded during the third quarter of the year.
    SRX compiles transactions from estate agencies and is based on pre-caveat resale transactions for non-landed private properties.

  5. #5
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    Quote Originally Posted by Fisherman
    Condo resale prices may reach historic high in fourth quarter




    By melissa tan

    The last quarter of the year is shaping up to be a strong one for the property market, with condominium resale prices already at a historic high for the first two months.
    The average condo resale price rose to $1,222 psf for October and November, the Singapore Real Estate Exchange said yesterday.
    This was 5.4 per cent higher than the $1,159 psf average recorded during the third quarter of the year.
    SRX compiles transactions from estate agencies and is based on pre-caveat resale transactions for non-landed private properties.
    What I like is that the increase is steady and non-alarming.
    This gives it some strength to go far.

    DKSG

  6. #6
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    Quote Originally Posted by phantom_opera
    rental yield on the way to 3% - tick
    HDB cov on the way up - tick
    HDB 1m will slowly be the norms than exception - tick
    MM rental continues to go up - tick
    MM is the future - tick
    nothing below 1000psf - tick
    near MRT min 1400psf - tick

    What other things not tick yet ?

    DKSG

  7. #7
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    Quote Originally Posted by DKSG
    What other things not tick yet ?

    DKSG
    COE touch 100k - waiting to tick

  8. #8
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    5.4% in one quarter? Zhun bo?

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