Couple of months ago, the Singapore Residential Price Index or SRPI declared that the prices of finished condominiums in the country had a significant decline. But recently, SRPI delivered the good news that this type of real estate investment increased its value by as much as 0.2% in March 2015 alone. It was only in February this year that owners and investors were notified that the said properties declined by 0.2 percent. Little by little, the assessment for these resale units is starting to get back on track. It may not be a big change for now, but this is still good news especially for those who invested in these resale units.
However, the increase in value differs from one region to another. In the areas located in Singapore’s central region, there is only a small boost of 0.1 percent. On the other hand, regions located at the non-central Singapore grew by as much as 0.3 percent. Unfortunately, the same optimism can’t be said for the smaller resale condominium units. Those who bought small units have to bear the downbeat figures instead. The NUS SRPI reported that the units measuring from 506 square feet and below dropped its value by as much as 0.4 percent.
The recent reported price index was conducted on the properties at the central region from District 1 – 4 and also at District 9 and District 11. For the rest, it is already considered as part of the non-central SG region.
Although it was not a dramatic increase, developers and investors should stay positive since they could still take advantage of the market while it hasn’t completely skyrocketed yet. Interested residents should consider this as another reason why they should reflect on buying resale condominiums now instead of thinking about getting a unit for themselves later.