Resale prices of private non-landed homes in Singapore declined in December after rising in November, accordingly to flash estimates. Singapore Condominiums and private apartment resale prices fell by 0.8% in December from the previous month of November, which recorded a modest increase of 0.3%.
Overall, resale prices of non-landed private residential homes have come down by 1.5% from July 2018, when property cooling measures were introduced after prices reached a new peak. However, from December 2017, resale prices are still up 7.5%.
The cooling measures have also affected the number of resale transactions. An estimated 479 non-landed private residential units were resold in December 2018, which is 24% lower than the 630 units that were resold in November. On a year-on-year basis, the number of resales were down by 50.7% from the 972 units that were resold in December 2017.