Condo resale prices up 0.9% in Feb, rising for fourth straight month: SRX

RESALE prices of non-landed private homes in Singapore rose 0.9 per cent month on month in February 2017, based on SRX Property's latest flash estimate.

This marks the fourth consecutive month-on-month gain in the index. In January 2017, the index posted a one per cent m-o-m appreciation.

Core Central Region (CCR) continued to lead last month's price gains, with a one per cent increase, followed by a 0.9 per cent rise in the index for the suburbs or Outside Central Region (OCR). In the city fringe or Rest of Central Region (RCR), the index increased 0.8 per cent.

Year on year, the February 2017 overall resale price index for private apartments and condo units climbed 1.8 per cent. The subindex for CCR was the clear outperformer, expanding 4.8 per cent; the subindices for RCR and OCR each inched up 0.7 per cent.

SRX Property noted that overall resale prices of private apartments and condos for February 2017 were down 6 per cent from the recent peak in January 2014.

It also estimated that 694 private apartments and condos were likely to have been resold last month - reflecting increases of 31.2 per cent month on month and 77.9 per cent year on year.