Resale prices for Singapore's non-landed private homes unchanged, sales fall 21 pct in April

Source: Xinhua| 2017-05-09 21:51:19|Editor: xuxin
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SINGAPORE, May 9 (Xinhua) -- Resale prices for Singapore's non-landed private residential flats were unchanged in April from March, according to estimates released by Singapore Real Estate Exchange (SRX Property) on Tuesday.

Resale prices for city fringe and suburban area rose by 1.2 percent, 0.1 percent, while resale price for downtown area decreased 1.2 percent on a month-on-month basis.

Year on year, SRX Property said resale prices for Singapore's non-landed private homes in April were up 1.8 percent compared to April 2016.

As for volume, an estimated 907 non-landed private residential units were resold in April, a 21 percent decrease from the 1,148 units resold in March. While on a year-on-year basis, resale volume in April was 48 percent higher compared to 613 units resold in the same period last year.

Compared with the peak in April 2010, resale volume was down by 55.8 percent compared to the 2,050 units resold at that time.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property's estimated market value, rose to 5,000 Singapore dollars (3,550 U.S. dollars) in April from zero in March.

Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in public housing units built and sold by the government. The private homes are typically more expensive than public housing units.