Resale prices, volume for non-landed private homes fall in May

Resale prices, volume for non-landed private homes fall in May

The number of resale transactions for non-landed private homes in May fell by 7.5 per cent from April, while prices dipped 0.3 per cent to mark a 17-month low, the Singapore Real Estate Exchange estimated.

SINGAPORE: Resale transactions for non-landed private residential units fell by 7.5 per cent month-on-month in May, and prices dipped slightly to mark a 17-month low since December 2012, according to Singapore Real Estate Exchange (SRX).

In its flash report for May released on Monday (June 9), SRX said an estimated 421 transactions were registered, down from the 455 transactions in April. This represented a 42.6 per cent drop from the 734 units resold in the same month last year, it added.

Commenting on this, real estate agency ERA said: "Buyers may have diverted their attention to hot new projects that were launched by developers at attractive prices, for example Commonwealth Towers, as well as projects relaunched by developers at lower revised prices such as Sky Habitat."

Overall resale prices dipped slightly by 0.3 per cent, with the city area leading the drop with 2.9 per cent and the suburbs seeing a 0.3 per cent dip. The city fringes climbed by 0.6 per cent though, the report stated.

The majority, or 16 of 25 districts, experienced negative Transaction Over X-value in May, led by District 9 (Orchard, Cairnhill, River Valley) and 14 (Geylang, Eunos), SRX said.

Bucking the trend, units in the Bukit Timah, Holland Road and Tanglin district (District 10) posted the highest positive Transaction Over X-value among districts with more than 10 transactions with S$80,000. This was followed by those in Upper Bukit Timah and Ulu Pandan (District 21) with S$29,000, it noted.

"Resale prices have continued to fall with sellers becoming more realistic about reduced demand. The private resale market remains gloomy and prices may continue to moderate to the loan curbs like the Total Debt Servicing Ratio (TDSR)," ERA said.

- CNA/kk

- wong chee tat :)

Tuan Sing launches Cluny Park Residence

Tuan Sing launches Cluny Park Residence

WRITTEN BY THE EDGE
THURSDAY, 06 MARCH 2014 15:18

Tuan Sing Holdings today announced the launch of its upmarket freehold condominium development, Cluny Park Residence. The showflat at Dempsey Road will be open from 8 March 2014, between 10 am and 7 pm daily.

Nestled in a quiet enclave of good class bungalows in the prime Bukit Timah district, Cluny Park Residence comprises 52 exclusive units, which are priced from about $2.3 million each.

Residents will get to enjoy a direct view of Singapore Botanic Gardens across the road and the convenience of Botanic Gardens MRT station with access to the upcoming Downtown Line practically at their doorstep.

Situated next to the French Embassy, Cluny Park Residence is within close proximity to the most sought-after schools in Singapore, including Nanyang Primary School, Raffles Girls’ Primary School, Singapore Chinese Girls’ School and Hwa Chong Institution.

Cluny Park Residence spreads across close to 49,000 sq ft of freehold land and will house two- to four-bedroom units including eight penthouses. Each unit comes with a private entrance foyer, and each ground floor unit also comes with a private pool.

The project is expected to receive TOP in the third quarter of 2016.



- wong chee tat :)