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The non-landed private property market saw lacklustre performance in 2015, with cooling measures continuing to take a toll on the market.
Transaction volumes saw a recovery in 2015, with the entire year closing at more than 15,000 units sold. This was a 20 percent increase from the volume of units transacted in 2014.
Prices however, continued to fall, with 2015 seeing an overall decline of 3.7 percent over the entire year. Prices in the suburban Outside of Center Region saw the largest declines at 4.7 percent, while the Core Central Region saw a more marginal dip of 2.8 percent.
For 2016, we think that the number of transactions is likely to stabilise, with price corrections moderating slightly.
For a more in-depth view of the private property market, including rental performance, and our full predictions for 2016, click on the link below to register, and download the full report.
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Chang Hui Chew, Content Marketing Manager for PropertyGuru, wrote this story. To contact him about this or other stories, email him at chang@propertyguru.com.sg