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SG Resale non-landed home prices post surprise growth

Property Here - Monday, July 08, 2013

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The growth in resale prices of non-landed homes in June was surprising, according to Alan Cheong, Research Head at Savills Singapore.

In the Core Central Region (CCR), resale prices rose 5.5 percent while those in the Rest of Central Region (RCR) went up 0.5 percent. In particular, the big jump in the CCR has helped push up prices islandwide.

Cheong noted that “upon closer examination, a probable reason for the increase in resale prices could be due to the paucity of transactions. This skewed the distribution towards the higher $psf range. Using caveats lodged to proxy SRX’s universe of transactions, we find that for the month of June, prices were skewed towards higher priced transactions compared with those in May”. 

Meanwhile, resale prices of non-landed homes in the Outside Central Region (OCR) dipped by 0.2 percent.

Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email