Resale prices of condos up 1.5% in August

Highest increase recorded in RCR.

According to SRX Property Index (SPI), resale prices of non-landed private residential units (condos) increased by 1.5% in Aug 2013, reaching a new high. This comes on the heals of a 0.5% drop in July and amid mild fluctuations in the recent months.

All three regions showed price gains in the past month. Rest of Central Region (RCR) led the trend by gaining 2.4%, followed by Core Central Region's (CCR) 1.8% increase. Outside Central Region (OCR) prices also inched up by 0.2%.

An estimated 540 non-landed homes were resold in August, similar to July's 573 units. On a year-on-year basis, this represents a more than 50% drop from the 1,240 units transacted in Aug 2012.

Based on the non-landed residential rental SPI sub-index, overall rental prices for non-landed private residential in August slipped by 0.1% from July.

On a regional basis, rental prices in the CCR and RCR softened by 0.2% and 0.1% respectively, while OCR's rents strengthened by 0.5%.