Dec 22, 2010

PROPERTY PRICES IN SINGAPORE

Resale condo prices still flat

By Cheryl Lim

'Prices of non-landed resale homes remained largely unchanged in Q4 this year,' said DTZ Research. -- ST PHOTO: ALPHONSUS CHERN

PRICES of resale condominium units have stayed more or less flat over the past six months though landed property performed strongly, according to new data analysed by consultancy DTZ Research.
One factor behind the steady trend for non-landed resale homes is that they had already risen sharply, it suggests.
Another is that home buyers are exercising greater prudence after market cooling measures introduced by the Government on Aug 30 to quell speculation.
But it is a completely different picture for the upscale landed homes segment.
Landed freehold units in the prime districts have seen prices rise 5.1 per cent this quarter from the previous quarter. Prices are about $1,693 per sq ft (psf).
Even outside prime districts, landed homes have posted strong price rises of 4.3 per cent to an average $993 psf.