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2014 saw significant price declines for HDB resale and private residential properties

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Resale costs for open cabin properties and private properties declined through and through in 2014, as showed by the HDB and the URA.

The latest blast assessment of the HDB Resale Price Index uncovered that expenses dropped by 1.4 each penny in Q4 2014, following in a general diminishing of 6.1 each penny in 2014. This is the best fall taking after 2001 (8.2 each penny) according to Mr Ismail Gafoor, Chief Executive of Propnex Realty, met by TODAY.

URS gleam assessments of the private property estimation rundown showed an one each penny plunge in Q4 2014, resulting in a general diminishing of four each penny for 2014. This yearly abatement is the first since 2008.

In the Core Central Region (CCR) and Outside Central Region (OCR), expenses of non-landed private properties recorded a 0.9 each penny fall in the last quarter of 2014.

Non-landed private properties in the Rest of Central Region (RCR) enrolled the greatest decline, of 1.2 each penny, took a gander at to a milder 0.4 each penny dunk in the second from last quarter. For the whole of 2014, expenses in CCR, RCR and OCR fell by 4.1 each penny, 5.2 each penny and 2.2 each penny independently.

Relating to the Singapore Business Review (SBR), Mr Alan Cheong, Senior Director at Savills said that for 2015 on the other hand, "Properties in the Core Central Region (CCR) will see the best declines, while costs in the Rest of Central Region (RCR) and the Outside Central Region (OCR) will either stay level or creep down potentially."

The private property business will see expenses continue moderaing by four each penny to ten each penny in 2015, according to a couple of property specialists met by SBR.

The typical lessening is attributed to distinctive reasons, including the cooling measures, best in class supply of homes, frail buyer feeling and the ordinary trek in speculation rates.

Taken from ST Property

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Guest Monday, 13 July 2020