Resale volume of condos crashed 40% in May

Despite prices dipping 0.5%.

According to the SRX Property Index (SPI), resale transaction volume remained relatively low. May's flash resale figures showed 666 non-landed units transacted in the month, while the final volume figure is projected to be around 750 units, which would exceed the 671 units sold in April.

Comparing year-on-year, the estimated 750 units transacted in May represents an approximated 40% drop from the same period last year. (There were 1292 non-landed resale cases in May 2012.)resale price of non-landed private residential units showed an overall drop of 0.5% in May 2013.

Core Central Region (CCR) and Rest of Central Region (RCR) saw price drops of 0.5% and 0.4% respectively. However, prices in Outside Central Region (OCR) increased 0.3%.