Light at the end of the resale market tunnel finally..?

By The Folks @PropTalk - May 29, 2015 No Comments

The wife and I have read that prices for resale private homes fell by just 0.1% in April over March. This followed a 0.3% gain in March over February and a 0.1% fall in February over January. 

Given the marginal changes seen over the first four months of 2015, some experts are suggesting that resale prices are gradually reaching a floor. This is especially if the same small percentage changes in prices are seen over the next two or three months.

The higher sales observed also provided a support for prices last month. A total of 423 private homes were resold last month, up from 351 in March. It is also up from the 386 units that were resold in April last year.

Overall prices of resale condominiums have slipped 2.2% in the past 12 months, according to the NUS Singapore Residential Price Index (SRPI). The overall index is also down about 9% from its peak in July 2013. However, the drop is perceived to be modest compared to the 5% year-on-year fall seen in each month of 4Q 2014.

So are we finally seeing some light at the end of the resale market tunnel? The wife and I aren't really holding our breath yet... 

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