Prices of completed private homes have risen slightly in January by 0.1%. That is after a 0.6% fall in December, which could be due to the lack of new launches and the festive year-end lull. The NUS Institute of Real Estate Studies’ (IRES) Singapore Residential Price Index (SRPI) has indicated varied price fluctuations across the different regions. Small apartments up to 506 sq ft fared the best, with a 0.6% rise while units in the central regions fell 0.5%.
This most recent study includes a new segment that looks at 574 private residential developments in 26 districts which were completed between October 2003 and September 2015, which could give a clearer picture of market direction in the recent decade. Some of the projects included in the study were the D’Leedon, Skyline Residences and Silversea condominiums.
The outlook for completed private properties remains conservative for the rest of the year, with prices expected to fall, however slight. Developers and industry players are already calling for the property cooling measures to be lifted, though the authorities seem to be standing their ground, for now. The year is still young, thus global economic shifts in the first half of 2016 may impact the decision-making process for H2. There will still be investment opportunities if one widens the scope to include regional cities.
