The new Singapore Residential Price Index (SRPI) flash figures out yesterday showed that prices rose 0.9% last month, rallying from a 0.1% dip in September. The overall SRPI which tracks a basket of completed non-landed projects points to a cautious market, with monthly price movements mostly fluctuating within a range of just 1% or less this year.
Prices of centrally located homes, excluding small apartments of less than 500 sq ft, posted a gain of 1% last month compared with the 0.4% dip in September. Non-central area values rose 0.8%, building on September's 0.1% increase. Prices for small apartments inched back 0.9% after a 3.5% drop in September.
Experts offered various reasons for the trends seen in the SRPI index, which is compiled by the National University of Singapore.
DTZ head of Asia-Pacific research Chua Chor Hoon noted that the index's ups and downs could be due to its nature as a monthly snapshot, and there were fewer caveats lodged in October.
Chesterton Suntec International research head Colin Tan said the fluctuation could be due to prices reaching a turning point.
“The underlying trend is still up ever so slightly. This is to be expected as there is still positive economic growth,” he added, suggesting that there could be a to-and-fro between the HDB resale and private resale mass market segments.
By The Straits Times
Posts
No comments:
Post a Comment