Resale non-landed property rises 1.9% in Nov 2012

Resale non-landed property rises 1.9% in Nov 2012 which was the highest gain in 2012 fuelled by a rebound in prime home sector. This is despite of the coming festive sluggish market and just after the latest cooling measure introduced in Oct 2012.

The price gain in Oct 2012 was 0.8% and Q4 2012 is expected to record the highest quarterly growth for the year.

Centrally located property achieved the highest gain at 2.6% while the other location recorded a price gain of 1.3%. Buyers are attracted to the resale property as new launches are setting higher price benchmark for the property market and older properties tend to have bigger built-in area.

With the continuing regeneration and infrastructural improvements, they will benefit new launches as well as resale homes in the coming years.

Buyers seem to take the latest cooling measure in its strides as compared to the previous ABSD measures where the immediate impact was more pronounced.

10 Jan 2013