In a low that has not been seen since December of 2012 and despite a rise
in resale volume in punggol central for the The
Amore EC June data shows that private condo resale prices have dropped
further for that month.
Property consultants feel that this may have something to do with an
increase of buyers moving into the resale market. Owners have had to give
way to offering lower prices in a bid to match what buyers are expecting to
Singapore Real Estate Exchange’s transaction data has indicated a 1.4% drop
in prices for the amore ec from May of this year, drawn down by a decline
that has affected all regions.
The month to month data for June show a 7.9% increase for the amount of
resale transactions to 452. However, the amore ec this figure is 23.8%
lower than June of 2013’s amount of active resale transactions.
The largest drop in prices for punggol central propertiescame from the Rest
of Central Region at 3.2% with Core Central Region on its heels at 1.7%.
Outside Central Region saw a 0.3% drop.
Eugene Lim, key executive officer for ERA Realty, pointed out that the
decline in prices seen for Rest of Central Region and Core Central Region
were the main culprits in dragging prices down. These are areas where the
price band for homes is much higher.
Loan curbs also played a hand in CCR’s resale prices, along with an
overabundance of developers stock that has gone unsold, the additional
buyers stamp duty and a weaker demand for leasing. However, Mr. Lim feels
that more buyers will return to the resale market for the amore ec as
prices begin to stabilize.
Data for the rental market for the amore ec has shown that condominium
owners, in a bid to secure tenants, were more inclined to offer lower
As reported by Singapore Real Estate Exchange, there was a 0.8% dip from
May to June in overall rental prices. It was also noted that from its peak
in January of 2013 this was a 6.5% drop. These figures were based on June’s
estimated units rented of 3,151. However, the estimated rental transaction
figure was a 2.2% increase based on May’s 3,084 signed rental contracts.
Compared to June 2013’s 2,657 signed rental agreements, this figure was
Mr. Lim further pointed out that there will be a rise in completed private
condominiums punggol central for the amore ec from last year’s figure of
13,150 units to this years estimated 17,138 units. These figures are
predicted to rise further in 2015 to 21,738 units and in 2016 to 26,252
Mr. Lim believes that, moving forward, rents will more than likely remain
discouraging due to a tightening on foreign workers and having more
condominium units coming into the resale market.