SINGAPORE, April 11 (Xinhua) -- Resale prices for Singapore's non-landed private residential flats reached a 2.5-year high to increase 0.5 percent in March month-on-month, according to estimates released by Singapore Real Estate Exchange (SRX Property) on Tuesday.
The rise applied across all locations in March month-on-month. Resale prices for downtown area, city fringe and suburban area rose by 0.4 percent, 0.7 percent and 0.4 percent respectively on a month-on-month basis.
Year on year, SRX Property said resale prices for Singapore's non-landed private homes in March were up 2.2 percent compared to February.
As for volume, an estimated 1,058 non-landed private residential units were resold in March, a 51.8 percent increase from the 697 units resold in February. While on a year-on-year basis, resale volume in March was 77.5 percent higher compared to 596 units resold in the same period last year.
Compared with the peak in April 2010, resale volume was down by 48.4 percent compared to the 2,050 units resold at that time.
Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in public housing units built and sold by the government. The private homes are typically more expensive than public housing units.
