Resale prices of condo units eased 1.5% in November

Only 387 homes were resold.

According to a release, resale prices of non-landed private residential units softened by 1.5% in November 2013 (SRX Property Resale Index), marking a third consecutive monthly drop in the overall resale price index. This is also the lowest price level observed in this year, 4.1% down from the price peak in February;

Price movements across all three regions fell into the negative zone, led by a 2.0% drop in the Core Central Region (CCR). Rest of Central Region (RCR) and Outside Central Region (OCR) also saw price drops of 0.7% and 0.9% respectively.

An estimated 387 non-landed homes were resold in November, a 22.9% drop from October's 502 units sold. On a year-on-year basis, this represented a 62% drop from the 1,019 units transacted in November 2012;