Resales of private non-landed homes jump

Among the projects which registered a significant number of resale transactions last month was D'Leedon in Leedon Heights, where six units were resold.
Among the projects which registered a significant number of resale transactions last month was D'Leedon in Leedon Heights, where six units were resold. ST PHOTO: STEPHANIE YEOW

April estimate of 689 units highest in almost 3 years, but volume still a far cry from 2012 peaks

The resale volume of private non-landed homes last month shot up to the highest level in almost three years, flash estimates out yesterday from SRX Property show.

This coincided with a second straight month of rising prices of private non-landed homes, a phenomenon last seen in December 2013 and January 2014.

But while it seems momentum has picked up somewhat for the resale market, values are still weaker compared with a year back and volumes far lower than earlier peaks.

An estimated 689 private non-landed homes were resold last month, up 17.6 per cent from March and 28.1 per cent higher than in April last year, SRX Property found.

This figure was the highest since 726 units were resold in May 2013.

An estimated 689 private non-landed homes were resold last month, up 17.6 per cent from March and 28.1 per cent higher than in April last year, SRX Property found. This figure was the highest since 726 units were resold in May 2013.

"The increase in transactions could signal that there are still buyers out there with the wherewithal to commit. These could be people who were waiting for the right price to enter the market," said Mr Alan Cheong, Savills Singapore research head.

But last month's estimated resale volume is still a far cry from the heyday in 2012. For example, a total of 1,242 non-landed homes were resold in April 2012.

Resale prices of private non-landed homes rose 0.5 per cent in April from March, after rising 0.1 per cent in March. But they are still 0.5 per cent lower compared with a year back.

In individual sectors, core central region prices rose 0.7 per cent month on month, rest of central region prices rose 1.3 per cent, and outside central region or suburban prices fell 0.2 per cent.

Projects which registered the most resale transactions were OUE Twin Peaks in Leonie Hill which sold 17 units, A Treasure Trove in Punggol Walk where eight units were resold, and D'Leedon in Leedon Heights at six units.

Other projects which recorded resale volume of five units included Double Bay Residences in Simei, Parkview Apartments in Bukit Batok, Thomson 800 in Thomson Road and Caribbean at Keppel Bay.

A version of this article appeared in the print edition of The Straits Times on May 11, 2016, with the headline 'Resales of private non-landed homes jump'. Print Edition | Subscribe