Condo resale prices up 8.7% in April

A $18m unit at the Sculptura Ardmore was April’s most expensive condo unit resold.

Condo resale prices rose 8.7% in April from a year ago, with all regions experiencing price increases.

Condo resale prices in the core central region (CCR) increased by 3.8% year-on-year, whilst rest of central region (RCR) condo resale prices jumped by 9.9%. Resale prices of condos outside the central region (OCR) also climbed 9.5% year-on-year.

Compared to March, OCR resale prices fell by 0.3%. CCR and RCR prices rose by 2.3% and 1.7%, respectively. Condo resale prices are 1.3% higher in April than in March.

Volume-wise, an estimated 919 units were moved in April, which is 29.7% lower than in April 2022. This is also a 17.9% decrease from the 1,119 units resold in March.

ALSO READ: Economic challenges, new supply to drag private residential rents in H2

By region, 52.1% of the condos resold were from OCR, 30.2% were from the RCR, and the remaining 17.8% were from CCR.

A $18m resale unit at Sculptura Ardmore was reportedly the most expensive condo unit to be resold in April.

In RCR, the title goes to a unit at Reflections At Keppel Bay, which resold for $7.9m.

Meanwhile, a $3.68m for a condo resale unit at Ocean Park was the most expensive condo unit resold in the OCR.