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Private home resale prices in Singapore fall 1.4% in June

Publication Date : 14-07-2014


Resale prices of private homes fell further in June to hit their lowest point in 18 months, even though the number of units resold picked up.

Prices fell in all parts of the island, led by homes in the city fringe areas.

They slipped 1.4 per cent overall from May to June, according to Singapore Real Estate Exchange (SRX) flash estimates released on Monday.

This was their lowest level since December 2012, the SRX said.

However, the number of units resold rose 7.9 per cent from the preceding month to 452 in June.

But this figure remained 23.8 per cent lower than the 593 units resold in June last year.

The drop in resale prices was steepest in the city fringe, where they tumbled 3.2 per cent. Resale prices fell 1.7 per cent in the city centre and dipped 0.3 per cent in the suburbs.

Private home rents also slid 0.8 per cent in June from the month before even though the number of rental contracts signed rose by 2.2 per cent.

Rents in the city centre fell 2.5 per cent from May to June, followed by a 1.1 per cent drop in the outskirts. However, city fringe rents rose 1.3 per cent.

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