According to the June 2005 flash estimate done by the National University of Singapore that was recently release for the SRPI, or Singapore Residential Price Index series, a drop by 12.7% has been seen from May 2013’s peak in the prices for condos and private apartments that were completed. Of the four categories represented in the index for this series of the SRPI, this has shown the worst for Kingsford Waterbay.
Central Region Kingsford Waterbay
According to the National University of Singapore’s IRES (Institute of Real Estate) the Central Region comprises districts 1 through 4, which also includes Sentosa Cove and the financial district, and the prime districts of 9, 10 and 11. IRES was responsible for forging the tracking of prices for the SRPI series for non-landed private homes that are completed, and which excludes EC’s.
Coming in after the sub-index of the Central Region, and showing the 2nd largest fall to be recorded by the sub-index, was the category of completed condos and small flats of up to 506 square feet. This sub-index had its peak in August of 2013 and has since dropped down to 9.9%.
Kingsford Waterbay Upper Serangoon
Coming in 3rd was the Non-Central Region sub-index with an 8.6% drop from its April 2013 peak island wide. Small units are not included for the Non-Central and Central regions indices for Kingsford Waterbay Upper Serangoon.
From its peak in July of 2013, the data gathered by NUS shows a 10% drop for the SRPI overall.
Upper Serangoon View Condo
One analyst has predicted that the months ahead for completed private housing in the Non-Central Region will have a higher rate of instability. When we enter month of more talk for developer sales we could see this effecting the resale market, which could then push potential buyers in the secondary market who have been wanting to snatch up completed properties to be more firm in their decision making processes and go forward with making a purchase a unit in Kingsford Waterbay.