Rental and resale prices rose in August
According to the Singapore Real Estate Exchange, which collates sales by major property agencies, rental and resale home prices rose for both the public and private housing segments in August after a lull in July. With the public housing segment posting a 4.5% increase from July, and the private segment increasing by 1.8%, all signs point to an active and positive Singapore property market in the third quarter. third quarter might be a more buoyant one for the property market.
A recent Straits Times article reported that buyers have become more interested in the resale market with the high prices at recent property launches.
An example is the condo clusters around Tanjong Rhu, which has attracting buyers with the impressive sea views that many high-floor units enjoy, the tranquil surroundings, and the rental potential. A condominium within the vicinity, Costa Del Sol has seen a minimum of 30 transacting each quarter during 2010 and 2011. On the other hand, The Bayshore has had 20 to 40 resale transactions during that period, while nearby Bayshore Park saw at least 10 resale transactions each quarter. In fact, these three 99-year-leasehold condominiums were the top three suburban condos in resale transactions for the month June.
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