Condo resale prices slightly up by 0.4% in December as volume crumbles by 21.7%

On a yearly basis, December prices only inched 0.1% up.

The end of 2016 saw a slight uptick in condo resale prices, based on the latest figures by SRX Property.

According to SRX, non-landed private residential resale prices increased by 0.4% in December 2016 as compared to the previous month, with resale prices in OCR reflecting the biggest increase at 1.2%. This came as prices RCR decreased by 0.5% and prices in CCR remained unchanged.

On a yearly basis, prices in the said month increased only by 0.1%, with RCR and OCR recording a year-on-year price decrease of 0.9% and 0.4% respectively. On the other hand, CCR posted a year-on-year price increase of 1.8%. Overall prices in the said month were down 7.8% from the recent peak in January 4.

This slight price uptick came along with the crumbling resale volume, which saw a 21.7% decline in December.
According to SRX, an estimated 484 Non-landed Private Residential units were resold in December 2016, down from 618 units sold in the previous month.

On a yearly basis, resale volume was 6.8% higher compared to 453 units sold in December 2015.
The recent resale volume was down 76.3% compared to the latest peak of 2,050 units sold in April 2010.