Mid-tier residential segment lead rebound in resale prices

CCR and RCR prices rose 1.1%.

Residential resale prices managed to rebound in May, strongly led by the high-end and mid-tier segments, as resale prices in the core central region (CCR) and rest of central region (RCR) rose 1.1% MoM, while mass market resale prices (outside central region or OCR) dipped 0.4% MoM.

According to OCBC Investment Research, transaction volumes similarly improved in May with 1,235 non-landed private homes sold – up 17.4% MoM over April 2017 and by a whopping 57.7% YoY over May 2016.

"Through our channel checks, buyer sentiments have clearly improved after the latest tweaks to the property curbs in March 2017 where some measures relating to the SSD and the TDSR were relaxed," it said.

It furthered, "We believe these changes were, on a net basis, supportive of the physical market and continue to forecast for
general home prices to reach an inflection point by 2018."
 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Singapore, Hong Kong take rival paths to capture global gold trade
One builds MAS-backed vaulting for central banks, the other opens a pipeline to Shanghai.
Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.