Bucking the trend: Two districts record soaring resale prices in May

In SBR, it was reported 2 districts are going against the trend.

Non-landed private residential property prices have continued its downward slide in May. Overall resale prices of non-landed private homes slipped by 0.3%, representing a 17-month low since December 2012.

However, two districts are going against the grain by recording the highest transaction over x-values (TOXs) in the past month. The TOX measures how much people pay compared to recent transaction prices.

A report by the Singapore Real Estate Exchange released today revealed that District 10 (Bukit Timah, Holland Road, Tanglin) posted the highest positive TOX value of $80,000 in May.

District 21 (Upper Bukit Timah, Ulu Pandan) is a far second with a TOX value of $29,000 last month.

“This means that majority of the non-landed private property buyers last month in these districts purchased their units above what other buyers who came before them paid for in similar units,” the report noted.

This is in sharp contrast to overall median TOX recorded for the past month, which stands at negative $10,000 for non-landed private resales.

– See more at: http://sbr.com.sg/residential-property/in-focus/bucking-trend-two-districts-record-soaring-resale-prices-in-may#sthash.ouNy9oHk.dpuf

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s