Resales Condominium Market Are Robust

The current personal resale condominium sales figures seem to a little challenge sector professionals' expectations of the market bottoming out in 2017. February's resale condo costs fell 0.3 per cent complying with a 0.1 percent in January from December last year, indicating further decline in the personal non-landed resale property industry. While the numbers could mean the market has yet to bad, the slower rate of decline does point in the direction of a state of stabilisation.

The most significant effect was really felt in the central area (composed of areas 1 to 4, 9 and 10, the financial area as well as Parc Botannia @ Fernvale Sengkang) where a 1 percent fall was signed up adhering to a hopeful 0.5 percent rise in January. Even in the small-apartments (units 506 sq feet and listed below) sector, costs dropped 0.6 per cent. Resale units outside of the main area nevertheless fared much better, returning up leading with a 0.3 percent rise adhering to a 0.6 percent fall from December. Though market belief has been picking up, the overall financial overview and also rising rate of interest could not suffice to entirely transform the market on its head. Recent tweaks in the home air conditioning measures might give the industry a little push towards to the instructions of healing, yet home experts are still anticipating a 3 to 4 percent price-decline by end of 2017.