Condo resale records 5th consecutive price uptick

Prices were up 0.5% in March.

Condo resale prices in Singapore recorded a 0.5% increase in the past month as volume surged 51.8%, latest figures from SRX Property showed.

SRX noted that this was the fifth consecutive month of increase. In individual sectors, CCR, RCR, and OCR posted a price increase of 0.4%, 0.7%, and 0.4%, respectively.

On a yearly basis, March prices were up 2.2%. The price index reached 168.8 in March, a 2.5-year high since September 2014.

Meanwhile, March resale volume saw a 51.8% growth with an estimated 1,058 units resold. On a yearly basis, volume was 77.5% higher compared to 596 units resold in March 2016. However, it was down by 48.4% compared to the peak of 2,050 units resold in April 2010.