Resale prices of non-landed private homes fall in Feb: SRX - See more at: http://busi

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An honorable member of the Coffee Shop Has Just Posted the Following:

Here is the flash report from SRX:

February 2014 Non-landed Private Residential Resales

Resale Volume slowest since Global Financial Crisis. An estimated 242 non-landed private homes were resold in February, a 18.5 per cent drop from January's 297 resale transactions. YOY, February 2014's resale volume posted a 22.2 per cent decline from 311 resale deals closed in February 2013. This is also the lowest monthly resale volume since December 2008, when only 234 units were transacted in that month during the financial crisis.

Resale prices dipped 2.0 per cent in February. According to the SRX Property Resale Index (SPI), overall resale prices of non-landed private residential units dropped 2.0 per cent in February 2014, after two consecutive price gains in December and January.

"For the last fifteen months, the SRX property index for non-landed, resale properties is bouncing between the 170 and 180 band. Prices have been unable to break through the 180 ceiling, yet at the same time, prices are resisting the pressure from the cooling measures to fall below the 170 support level," noted Sam Baker, Co-founder & CEO of SRX.

Core Central Region's (CCR) prices dropped 3.9 per cent, followed by Outside Central Region's (OCR) price decrease of 1.8 per cent. Rest of Central Region (RCR), however, saw resale prices climbing by 0.4 per cent.

Non-landed Private Residential Rental

Rental prices softened by 1.0 per cent. Based on the private non-landed residential rental SPI sub-index, overall rental prices in February saw a further drop of 1.0 per cent despite a temporary rebound in January.

All three regions saw negative rental price changes in February. RCR's rents were 1.9 per cent down. Rents in the CCR and OCR regions dropped by 0.6 per cent and 1.3 per cent respectively;

Rental deals up 19.1 per cent year-on-year. 2,442 rental contracts were signed in February, down 6.6 per cent from January. However, on a y-o-y basis, February's rental volume posted a 19.1 per cent increase from the 2,051 units leased out in the same month of last year.


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