Singapore's private residential resale market keeps flat in Feb.
Xinhua, March 10, 2015 Adjust font size:
Singapore's non-landed private residential resale market kept flat in February from the previous month, with resale volume remained low, said Singapore Real Estate Exchange (SRX) on Tuesday.
Non-landed private residential resale prices dropped 3.2 percent from February 2014. Compared with the recent peak in January 2014, prices have declined 5.8 percent, said SRX, an information exchange formed by real estate agencies.
The private residential properties in Singapore typically refer to those built by private developers. Transactions involving private residential properties are carried out in a market separate from public housing market.
Resale prices of private homes in the downtown area and the suburban area rose 1.5 percent and 2.0 percent month-on-month, respectively. While prices in the city fringes fell 0.8 percent.
SRX said resale volume remained low in February, with 321 units resold. It is a 6.7 percent decrease from January, which saw 344 units resold. On a year-on-year basis, resale volume was 36.6 percent higher compared with the 235 units transacted in February last year.
About 80 percent of the resident population in Singapore live in units built by the Housing and Development Board (HDB) and sold to eligible households. The public housing market is more tightly regulated than the private one. Endi