RCR private condo prices up 12.6% in April

This helped boost overall prices by 9.5%.

The prices of private condos in April 2018 jumped 9.5% from last year, boosted by growth from the three sectors, SRX Property revealed. Amongst the three, prices in the rest of central region (RCR) leapt the highest by 12.6% YoY and broke a new growth record. Prices in core central region (CCR) grew 9.2% YoY, whilst those in outside central region climbed 7.3% YoY.

From last month, overall condo prices increased 0.6%. RCR and OCR recorded a price increase of 1% and 0.7% respectively, whilst CCR prices recorded a decrease of 0.3%.

Meanwhile, there were 1,360 private condo resales in April, higher by 26.9% last year (1,072 units) and higher by 1.7% last month (1,383 units).

Most of the private condo transactions were made $20,000 above their computer-generated market value, as the overall median Transaction Over X-Value (TOX) is POSITIVE $20,000 in April 2018. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

District 11 (Watten Estate, Novena, Thomson) posted the highest median T-O-X at POSITIVE $89,000. Amongst relatively active districts, District 27 posts the most negative median T-O-X. District 27 (Yishun, Sembawang) posted a T-O-X of NEGATIVE $15,000.