Condo resale prices up 0.4% in May

Only condos outside the central region reported a decline in resale prices.

New figures from SRX Property showed that the non-landed residential resale prices crept up 0.4% in May, whilst volume jumped by 17.4%. According to the latest data, condo resale prices in core central region and rest of central region recorded an increase of 1.1%. Condos in the outside central region, on the other hand, recorded a price decrease by 0.4%.

Meanwhile, resale volume jumped 17.4%, with around 1,235 units resold compared to the 1,052 resold in the previous month.

Here's more from SRX:

Year-on-year, prices in May 2017 increased by 1.5% from May 2016. In individual sectors, CCR, RCR recorded a year-on-year price increase of 3.5% and 2.3% respectively, while OCR recorded a year-on-year price decrease of 0.2%.

May 2017 prices were down by 5.2% from the recent peak in January 2014.

Year-to-date, prices increase by 2.1% in comparison to January 2017.

Price change in April 2017 was revised from 0.0% to -0.2%.

Year-on-year, resale volume in May 2017 was 57.7% higher compared to 783 units resold in May 2016;

Resale volume was down by 39.8% compared to its peak of 2,050 units resold in April 2010.