Resale prices of private non-landed homes jumped 13.4% on-year in the fourth quarter last year, according to flash estimates put out by the Singapore Real Estate Exchange (SRX).
SRX compiles data from 11 top property agencies in Singapore.
It said non-landed private resale home prices continued its uptrend to hit $1,233psf in the fourth quarter (Q4), compared to $1,157psf in the third quarter (Q3) in 2012.
Resale units in the mass market segment led the gain with a 4.8% increase over Q3, while those in the city fringes saw prices climb 3.6%.
But it was the core central region which saw a higher-than-expected growth of 4.6% in Q4.
SRX said this was due to the city area's strong performance in December.
Average private resale home prices in the city area surged 8.8% to $1,899psf in December, over November's average of $1,746.
SRX said the strong growth is partly attributed to a possible record breaking price paid by Hong Kong's Swire Properties for all 12 units in the en bloc sale of Hampton Court located at the corner of Draycott Park and Draycott Drive
Meanwhile, resale transaction volume of non-landed private homes showed a seasonal drop of 5.5% in Q4 compared with Q3.
But transaction volumes in the city area bucked the trend by reporting a 7.3% increase. Volumes in city fringes and mass market segments fell by 11% and 4.6% respectively.
For the full year, 12,500 units were transacted in the private resale non-landed market - a 7% drop compared to 2011.
SRX said this can be attributed mainly to the weak performance in the first half of the year, which saw a 27.3% plunge in transaction volumes after the additional buyer's stamp duty was introduced.
But the trend was reversed in the second half of the year with a 20.1% jump in the number of units transacted compared to a year ago.
SRX compiles data from 11 top property agencies in Singapore.
It said non-landed private resale home prices continued its uptrend to hit $1,233psf in the fourth quarter (Q4), compared to $1,157psf in the third quarter (Q3) in 2012.
Resale units in the mass market segment led the gain with a 4.8% increase over Q3, while those in the city fringes saw prices climb 3.6%.
But it was the core central region which saw a higher-than-expected growth of 4.6% in Q4.
SRX said this was due to the city area's strong performance in December.
Average private resale home prices in the city area surged 8.8% to $1,899psf in December, over November's average of $1,746.
SRX said the strong growth is partly attributed to a possible record breaking price paid by Hong Kong's Swire Properties for all 12 units in the en bloc sale of Hampton Court located at the corner of Draycott Park and Draycott Drive
Meanwhile, resale transaction volume of non-landed private homes showed a seasonal drop of 5.5% in Q4 compared with Q3.
But transaction volumes in the city area bucked the trend by reporting a 7.3% increase. Volumes in city fringes and mass market segments fell by 11% and 4.6% respectively.
For the full year, 12,500 units were transacted in the private resale non-landed market - a 7% drop compared to 2011.
SRX said this can be attributed mainly to the weak performance in the first half of the year, which saw a 27.3% plunge in transaction volumes after the additional buyer's stamp duty was introduced.
But the trend was reversed in the second half of the year with a 20.1% jump in the number of units transacted compared to a year ago.
Source: Channel News Asia
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