Condo resale prices up 0.6% in January

Prime condo prices rose the most.

Resale prices of non-landed private residential properties rose 0.6% month-on-month in January, according to data released by SRX Property.

Resale prices in the Core Central Region (CCR) booked a 1% increase, while prices in the Rest of Central Region (RCR) and the Outside Central Region (OCR) rose by 0.1% and 0.8%, respectively.

Prices dropped 1.7% on a year-on-year basis. Prices in January were down 7.2% from their recent peak in January, SRX Property said.

Resale volume dropped 20% month-on-month, with an estimated 364 condos resold over the month. This compares with 455 units in December.

Resale volume was down by 82.2% compared to its peak of 2,050 units resold in April 2010.