Condo resale prices up 2.3% in January

RCR condo resale prices led the increase as it grew 2.6%.

Condo resale prices rose 2.3% YoY and 0.5% MoM in January, lifted by price increases in the Rest of Central Region (RCR) and Outside Central Region (OCR), according to SRX.

Resale prices in the RCR went up 2.6% YoY and 1.5% MoM, whilst OCR grew 2.3% YoY and 0.5% MoM. Meanwhile, condo resale prices in the Core Central Region (CCR) dipped 0.8% YoY but inched up 1.7% YoY.

As for its volume, around 684 units were resold in January, showing a 4% rise compared to 658 units in December 2019. This figure is also 15.9% YoY and 13.4% higher the 5-year average volume.

Breaking down by regions, 51.9% of it comes from OCR, 24.7% comes from RCR and 23.5% comes from CCR.

SRX noted that the highest transacted price for a resale unit in January was for Le Nouvel Ardmore at $18.2m. In the RCR, Camelot By-The-Water was the priciest resale deal for $6.6m, whilst the OCR had a Waterfront Key unit resold for $3.2m

Overall transaction over X-value is negative $2,500 in January 2020, posting a $500 slip compared to December 2019.

District 13 (MacPherson/Potong Pasir) posted the highest median T-O-X at positive $28,000, followed by District 25 (Admiralty/Woodlands) at positive $24,000. In contrast, District 15 (East Coast/Marine Parade) posted the lowest median T-O-X at negative $30,000, followed by District 4 (Sentosa/Harbourfront) at negative $29,700.