Resale deals of non-landed private homes jump as prices fall

SINGAPORE - The number of non-landed private homes that changed hands in the resale market jumped to a six-month high last month, as prices slipped to their lowest in one and a half years.

The Singapore Real Estate Exchange (SRX) said on Monday that 476 resale transactions of non-landed private homes took place in April, up 24 per cent from March and the most since October last year.

But it was still lower compared to a year ago, when 649 units were resold, it added.

Overall resale prices for non-landed private homes slipped by 1.7 per cent last month over March, dropping to their lowest since December 2012.

Prices of homes on the city-fringe areas dropped the most, falling by 3.6 per cent, while those in the core central areas declined 2.3 per cent. But prices of homes in suburban areas rose 0.4 per cent.

The SRX also said rents of non-landed private homes inched up 0.2 per cent in April over March, after reaching a 27-month low in March.