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Resale private home prices up, sales down

The resale prices of completed non-landed private homes rose last month for the second consecutive month, even as the number of transactions continued to drop.

Resale prices of these homes rose 2.3 per cent in January over December, after a revised 0.8 per cent increase in December over November, according to the latest data from the Singapore Real Estate Exchange (SRX) yesterday.

But the number of sales of such homes fell to 310 in January, a 9.1 per cent decline from December. The figure also marked a 70.2 per cent decline from January a year ago.

"It is clear from the long-term data that the cooling measures are having maximum impact on the volume side of the equation," said Mr Jeremy Lee, co-founder of srx.com.sg.