ASEAN KEY DESTINATIONS
Non-landed private home resale prices fall 2% in February
SINGAPORE: Resale prices of non-landed private homes in Singapore fell 2.0 per cent in February from January, with properties in the core central region taking the biggest hit, according to the Singapore Real Estate Exchange (SRX).
The core central region -- where Singapore's most expensive apartments are located -- saw prices drop 3.9 per cent last month.
It was the worst performance since March 2012 when prices in the core central region declined by 4.7 per cent month-on-month, SRX said.
The core central region covers Districts 9,10 and 11 as well as the central business district and Sentosa.
In January, prices in the core central region rose by 1.8 per cent, just a tad below the 1.9 per cent rise for the overall market.
Home prices in Singapore have been trending downwards since the fourth quarter of last year amid concerted government efforts to cool the residential market.
Rents have also softened, with SRX's index for private residential rental showing a decline of 1.0 per cent in February from January.
For the whole of 2014, most analysts expect private home prices to fall by 5 to 10 per cent.
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