Friday, January 23, 2009
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The median Cash-Over-Valuation (COV) amount among all resale transactions conducted in Q4 2008 was $15,000, which was $4,000 lower than that in Q3 2008. Cases requiring COV constituted 85% of all resale transactions in Q4 2008, 4% lesser than that in Q3 2008.
Resale transactions decreased by about 24%, from about 8,110 cases in Q3 2008 to about 6,190 cases in Q4 2008. The total number of resale transactions for 2008 was 28,419, about 3% lower than in 2007.
On the HDB rental market, HDB housing data shows that median sublet rents for HDB flats in Q4 2008 remained the same as those in the previous quarter, except for 2-room flats which have a median slightly higher by $100 compared to Q3 2008. However, HDB subletting transactions fell by 7% from about 3,960 cases in Q3 2008 to about 3,690 cases in Q4 2008 which may be an early sign of falling rental demand.
The latest housing data indicates that the recession may have started to take its toll on the HDB resale market.
May also want to read:
99 Leasehold Property: Calculation of Depreciation Rate based on Singapore Land Authority Data
Spore Property History 1960-2008
Property Investment Tip: Don't put all your eggs in one basket
HDB Resale Price Index 1990-2008: Graph & Chart
HDB Resale Price Rose 1.4% but sales fell 24% in Q4 2008
According HDB housing data, HDB’s Resale Price Index (RPI) rose by 1.4% in 4th Quarter 2008 over the previous quarter, lower than the 4.2% increase seen in 3rd Quarter 2008.The median Cash-Over-Valuation (COV) amount among all resale transactions conducted in Q4 2008 was $15,000, which was $4,000 lower than that in Q3 2008. Cases requiring COV constituted 85% of all resale transactions in Q4 2008, 4% lesser than that in Q3 2008.
Resale transactions decreased by about 24%, from about 8,110 cases in Q3 2008 to about 6,190 cases in Q4 2008. The total number of resale transactions for 2008 was 28,419, about 3% lower than in 2007.
On the HDB rental market, HDB housing data shows that median sublet rents for HDB flats in Q4 2008 remained the same as those in the previous quarter, except for 2-room flats which have a median slightly higher by $100 compared to Q3 2008. However, HDB subletting transactions fell by 7% from about 3,960 cases in Q3 2008 to about 3,690 cases in Q4 2008 which may be an early sign of falling rental demand.
The latest housing data indicates that the recession may have started to take its toll on the HDB resale market.
May also want to read:
99 Leasehold Property: Calculation of Depreciation Rate based on Singapore Land Authority Data
Spore Property History 1960-2008
Property Investment Tip: Don't put all your eggs in one basket
HDB Resale Price Index 1990-2008: Graph & Chart
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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.
Smart Buyer :)