Private condo resale prices up 0.5% in April as sales volume hits new high

Almost 700 units were resold last month.

Resale prices of non-landed private residential homes booked a 0.5% month-on-month increase in April, led by gains in the resale values of prime homes.

Statistics from SRX Property show that prices in the Core Central Region (CCR) and the Rest of Central Region (RCR) rose by 0.7% and 1.3%, respectively, while prices of mass-market homes in the Outside Central Region (OCR) dropped by 0.2% month-on-month.

On a year-on-year basis, resale prices of prime homes rose by 3.2%, while resale values of city fringe properties increased by 0.9%. Meanwhile, prices of pre-owned homes in the OCR dropped by 2.9%.

Transaction volume surged by 17.6% month-on-month in April. An estimated 689 units were sold during the month, compared to 586 units resold in March. This represents a 3-year record since the last high of 726 units in May 2013.

On a year-on-year basis, resale volume in April 2016 was 28.1% higher compared to 538 units resold in April 2015;