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Resale transactions of private homes shoot up in March, prices inch up

Published on Apr 9, 2014 11:04 AM
 
Private homes in Singapore changed hands at a faster pace last month, sending prices slightly higher as well. -- ST FILE PHOTO: DESMOND LUI

SINGAPORE - Private homes in Singapore changed hands at a faster pace last month, sending prices slightly higher as well.

But rents fell to their lowest level since December 2011 due to a greater supply of homes for lease, even though more homes were rented out.

There were 451 resale transactions of non-landed private homes in March, an 82.6 per cent leap from the preceding month, the Singapore Real Estate Exchange (SRX) said on Wednesday.

This was the highest resale volume since October last year but was still 22.5 per cent lower than the 582 units resold in March last year.

 
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