Posh private condos buck the trend as resale prices climb 4.8% in August

Resale volume inched up 1.2% year-on-year.

Private condominium units in the Core Central Region are bucking the country’s falling price trend. The Singapore Real Estate Exchange’s August 2014 Private Residential Flash Report revealed that non-landed private residential resale prices were up slightly by 0.4% in August compared to July 2014.

Condos in the CCR and RCR drove the overall index up with price gains of 4.8% and 1.5%, respectively. In comparison, resale prices of units in OCR decreased 1.1%.

Year-on-year, prices have dropped 5.0% from August 2013. Prices have declined 5.3% since the recent peak in Jan 2014.

Meanwhile, resale volume remained flat as an estimated 418 Non-landed Private Residential units were resold in August, levelled with 417 transacted units in July.

Year-on-year, resale volume improved 1.2% compared with 413 units resold in August 2013, while it is down 79.6% compared to its peak of 2,050 units resold in April 2010.