The full article can be found in The Straits Times, Business Section, Page C2, 29 May 2018.
Following the price increase in private apartments and condominiums from February to March 2018, prices from March to April 2018 has recorded a 0.3 per cent dipped, which was driven by a 0.8 per cent decrease in prices for apartments in the central region, comprising Districts 1 to 4, and the financial district and Sentosa Cove.
However, prices of small or ‘shoebox’ apartments, which are not more than 506 sq ft, dropped 0.6 per cent last month, as compared with an increase of 0.8 per cent in March 2018.
On the other hand, prices of completed non-landed homes have increased 1.7 per cent thus far, which was led by a 2.3 per cent increase for non-central locations. As for the central region, values are up 0.9 per cent.
The overall prices have increased 7.9 per cent at the same point last year, with apartments in the central region up by 9.1 per cent while the non-central units are 7 per cent ahead. Prices of ‘shoebox’ apartments have also gone up by 2.1 per cent so far this year and 3.1 per cent year-on-year.
Nicholas Mak of ZACD, a real estate investment organisation, said, “The slight decline last month could be a ‘technical blip’ as the market factors that are driving the real estate price growth are still intact.”
He added, “The Singapore economy and job market remain healthy. The sentiment in the real estate market is still positive. The residential en bloc sale market is still active.”
“Property owners who had sold their homes in recent collective sales would still need to buy properties to replace the ones that they had sold. All these factors would contribute to healthy demand and price growth.”
Mr Mak said he expects prices to continue to rise this year but added, “However, for monthly price indices, there will always remain the possibility that there could be road bumps, such as technical blips, in the climb to the top.”
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