get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Listings

Connect with sellers through our app

RESOURCES

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

Affordability Calculator

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Connect with buyers through our app

RESOURCES

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell my HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

HOME E-VALUATION

For tenants

Rent with an Agent

Dedicated experts at your service

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to selling condo/landed

For landlords

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

RESOURCES

How to Lease an HDB

A step-by-step guide to renting HDB

How to Lease a Private Property

A step-by-step guide to selling condo/landed

Do it yourself

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Find your tenant 3X faster!

List your room rental, for free!
Share on facebook
Share on twitter
Share on email
Share on whatsapp

Property News: Declining Private Property Prices Persist in Q1

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

Calling all HDB flat owners! Could this be your time to purchase a private property? According to the Urban Redevelopment Authority (URA), private property prices in Singapore decreased into the first quarter of the year. This can be attributed to last year’s cooling measures, as well as with more properties launched than sold by developers.

Compared to the mere 0.1% decline during last year’s fourth quarter, the first quarter of the year saw a sharper drop of 0.7% in the prices of private properties, reflecting the sector’s second consecutive quarter of price decline.

Declining non-landed property prices

Unlike the 0.5% increase in the previous quarter, non-landed property prices dropped by 1.1%. With most situated in the Core Central Region (CCR) and Rest of Central Region (RCR), investor buyers were significantly affected by last year’s cooling measures, thus resulting in a steeper price dip. For non-landed properties in the CCR, prices fell by 3% in the first quarter, while those in the RCR declined by 0.7%

Meanwhile, it rose by 0.2% in the first quarter for non-landed purchases in Outside Central Region (OCR). This contrast can be attributed to the supply of more affordable houses in the area, as well as increased buyer support for owner occupation such as those who are right-sizing.

Increasing private home rent

Overall, rentals across private residential properties rose by 1% in the first three months of 2019, with an increase of 0.2% for landed property rental prices, and 1.1% for non-landed property rentals. This is also in line with an increase of 1.6% and 1.7% for non-landed property rentals in the CCR and OCR respectively. This reflects on an increased interest in private home rental, in the midst of declining private property prices.

property-news-declining-private-property-prices-persist-q1-ohmyhome-condo

New private developments ahead

As more buyers take a wait-and-see attitude, developers continue to launch more than 2,500 new private properties in the first three months of the year. This is around 80% more than 1,600 units launched in the previous quarter. To keep up with the market, prices of previously launched developments will be adjusted, while future projects priced more competitively to entice buyers.

Are you thinking of selling your HDB flat to take a leap into owning a private property? Ohmyhome is delighted to be a part of your journey in searching, selling or buying your home through direct channels. If DIY is not your style, don’t worry. Our agent services got you covered! Call 6886 9009 to learn more.

Source: CNA


Related posts:

Subscribe Now

Get a notification every time we upload a new blog post.

Find your tenant 3X faster!

List your room rental, for free!

Featured Blogs

Your one-stop guide for must-know HDB tips

get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

Do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Properties

Download the app and speak directly to sellers

RESOURCES

Affordability Calculator

Calculate required tax for selling

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

bUY OVERSEAS

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Free Home E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

get an agent

Rent with an Agent

Dedicated experts at your service

do it yourself

Browse Rental Listings

Download the app and connect with landlords

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to renting condo/landed

get an agent

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with tenants

RESOURCES

How to Lease my HDB

A step-by-step guide to renting out an HDB

How to Lease my Private Property

A step-by-step guide to renting out condo/landed

FEATURED ARTICLES

Condo Renting 101: Where to Look, Sizes and Cost

Looking for a condominium to rent ...

Ohmyhome Raises US$5M in Series A+ Funding

Ohmyhome, the leading Property 
One-Stop Shop Platform

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Social media

Other