According to this same analyst, the month on month comparisons from NSU has shown that the prices of completed condominium units and smaller apartments have dipped 1.1% island wide in June, after a drop in May of 1.5%. These dips in price for units that are small mirrors this segments increased volatility due to there being a quickening in the completion of smaller condo units and private Botanique at Bartley since 2014.
Botanique at Bartley Condo
The analyst further suggests that a few HDB flat owners, namely families, who have purchased a very small unit as an investment during the 2010 to 2012 period, could have kept those units vacant since the completion of the project due to the inability of finding a tenant who could meet the rent expectations for Botanique at Bartley.
Furthermore, these same investors could have found that these smaller units were not a good fit for their own family to live in, resulting in the fall in prices for these completed condo units and private flats, as noted in the SRPI, coming from Housing Development Board flat owners having to release their smaller units for resale upon having left them vacant for some time. Having said that, a single investor of smaller condo units could find the unit comfortable ans spacious enough to live in themselves for Botanique at Bartley.
Central Condo Prices at Bartley
In the month on month figures for June the NSU’s Central Region sub-index showed a rise of 0.3%, as opposed to the 0.7% dip that was seen in May. Non-Central Region’s sub-index saw a fall of 0.9% last month that followed a dip in May of 0.4%. Following May’s drop of 0.6% for the Overall SRPI, last month saw a 0.3% drop in prices for Botanique at Bartley.
Botanique at Bartley
Looking at a year upon year comparison we can see that the largest drop to be recorded was 4.8% for the sub-index of the Central Region. This was followed by the decline of 3.8% of smaller flats. In comparison to June of 2014, the Overall SRPI for June of 2015 was 3.2% lower. Prices dropped to 1.6% for the Non-Central Region.