Chart of the Day: Private resale non-landed prices hit historic high
Private resale non-landed prices rose by 3.2% in the third quarter.
The Singapore Real Estate Exchange reported:
Private resale non-landed prices rose by a strong 3.2% in Q3 to hit a historic high of $1,156psf.
The gain is led by a 2.5% m-o-m increase in Sep.
This 3.2% gain in resale prices contrasts with the fall of 2.2% in new sales prices according to caveats lodged over the same period.
It is important to note that the strong 3.2% growth in resale prices contrasts with the much smaller gain posted by the flash URA PPI released on Oct 1 because the URA PPI: takes into account new sales (which fell 2.2% in this quarter); the URA PPI does not take into account the last 3 weeks of Sep sales (which rose 2.5% m-o-m); uses a different methodology from the average PSF approach.
Amongst all regions, RCR posted the strongest quarterly gain of 7.1% for resale non-landed in Q3 to hit a historic high of $1,199psf. This is followed by a smaller gain of 3.0% increase in OCR and a more muted increase of 0.75% in CCR.
Gross Rental yields remained stable at 4.0% in Q3 due to a corresponding increase in rental prices compared with resale prices.