The resale volume of private non-landed homes last month shot up to the highest level in almost three years, according to flash estimates from SRX Property. This coincided with a second straight month of rising prices of private non-landed homes, a phenomenon last seen in December 2013 and January 2014.
But while it seems momentum has picked up somewhat for the resale market, values are still weaker compared with a year back and volumes far lower than earlier peaks.
Both private apartment and Housing Board flat resale volumes last month were the highest in about three years, according to flash estimates from SRX Property. Some of the resale transactions included developer sales of completed stock, where price cuts and creative methods of structuring payments have proved successful in selling units.
But while it seems momentum has picked up somewhat for the resale market, values are still weaker compared with a year back and volumes far lower than earlier peaks.
Both private apartment and Housing Board flat resale volumes last month were the highest in about three years, according to flash estimates from SRX Property. Some of the resale transactions included developer sales of completed stock, where price cuts and creative methods of structuring payments have proved successful in selling units.
Hills TwoOne - a freehold project in D23, expected to TOP by 3rd Qtr 2016 is seeing increased buying interest
An estimated 689 private non-landed homes were resold last month, up 17.6 per cent from March and 28.1 per cent higher than in April last year, SRX Property found. This figure was the highest since 726 units were resold in May 2013.
Rivertrees Residences - a beautiful condo beside the river with transport and amenities nearby is attracting buyers
The increase in transactions could signal that there are still buyers out there with the ability to buy. These could be people who were waiting for the right price to enter the market. And some after hearing the Budget report in parliament, believes that there would be no changes to cooling measures, encouraging investors who have been on the sidelines to act.
Resale prices of private non-landed homes rose 0.5 per cent in April from March, after rising 0.1 per cent in March. But they are still 0.5 per cent lower compared with a year back.
In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.
Projects which registered the most resale transactions were OUE Twin Peaks in Leonie Hill, A Treasure Trove in Punggol Walk, D'Leedon in Leedon Heights, Double Bay Residences in Simei, Parkview Apartments in Bukit Batok, Thomson 800 in Thomson Road and Caribbean at Keppel Bay.
Resale prices of private non-landed homes rose 0.5 per cent in April from March, after rising 0.1 per cent in March. But they are still 0.5 per cent lower compared with a year back.
In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.
Projects which registered the most resale transactions were OUE Twin Peaks in Leonie Hill, A Treasure Trove in Punggol Walk, D'Leedon in Leedon Heights, Double Bay Residences in Simei, Parkview Apartments in Bukit Batok, Thomson 800 in Thomson Road and Caribbean at Keppel Bay.
A version of this article appeared in the print edition of The Straits Times on May 11, 2016, with the headline 'Resales of private non-landed homes jump'.
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