Private condo resale prices up 10.6% in June

Resale volume was up 4.6% from last year.

Prices of private condo resales grew 0.2% MoM and 10.6% YoY in June 2018, SRX Property revealed.

Core Central Region (CCR) and Outside Central Region (OCR) recorded a price increase of 0.1% and 0.4% respectively, whilst Rest of Central Region (RCR) prices remained unchanged. Compared to last year, prices in CCR, RCR, and OCR all jumped 10.9%, 11.6%, and 9.4% respectively.

Meanwhile, 1,128 private condos were sold in the month, 25.5% lower compared to the 1,514 units resold in May. Compared to last year, however, the number of units was 4.6% higher.

Resales were transacted $17,000 over the market value, as indicated by the overall median Transaction Over X-Value (TOX).

For districts with more than 10 resale transactions in June 2018, District 21 (Upper Bukit Timah, Ulu Pandan) posted the highest median T-O-X at POSITIVE $70,000. This suggests that a majority of the buyers in that district purchased units above the computer-generated market value.

Meanwhile, District 26 (Upper Thomson, Springleaf) posted a T-O-X of NEGATIVE $12,000.