Condo resale prices up 1.1% in January

While resale volume surge 9.1%.

According to SRX Property data, non-landed Private Residential Resale prices increased by 1.1% in January 2017 compared to December 2016. In individual sectors, CCR, RCR and OCR recorded a price increase of 1.9%, 1.5% and 0.4%, respectively.

This came as resale volume increased 9.1%, with an estimated 526 Non-landed Private Residential units sold in January. This is compared to 482 units resold in December.

On a yearly basis, prices in January 2017 increased by 0.3% from January 2016. In individual sectors, RCR and OCR recorded a year-on-year price decrease of 0.1% and 1.1% respectively. On the other hand, CCR posted a year-on-year price increase of 2.7%. The prices this month were down by 6.8% from the recent peak in January 2014.

In terms of resale volume, the increase was 29% higher than last year. However, it was down by 74.3% compared to its peak of 2,050 units resold in April 2010.