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Condo resale prices edge up 0.6% to fresh high in April but sales dip 1.7%: SRX

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Resale prices of condominums and private apartments edged up 0.6 per cent to a new record in April over March, but volume of sales dipped by 1.7 per cent, according to flash data from real estate portal SRX Property on Tuesday (May 8).

Resale prices of non-landed private properties are up by 5.4 per cent in the first four months of the year, and are 9.5 per cent higher than a year ago, SRX data showed.

The monthly price change for March was shaved slightly to 1.4 per cent, from an earlier estimate of 1.5 per cent.

Across the island, prices continued their climb in all sectors, with the core central region (CCR), rest of central region (RCR) and outside central region (OCR) recording year-on-year price increases of 9.2 per cent, 12.6 per cent, and 7.3 per cent respectively.

RCR prices reached a new high in April 2018, SRX noted.

Looking at resale volume, some 1,360 non-landed private residential resale units were resold in April 2018, a 1.7 per cent decrease compared to 1,383 units resold in March.

Year-on-year, the resale volume in April rose 26.9 per cent compared to the 1,072 units resold in April 2017.

However, the volume of resale units was off by 33.7 per cent compared to the peak of 2,050 units resold in April 2010.

The median transaction-over-X value (TOX) for April 2018 came in at a positive $20,000, unchanged from last month’s TOX, SRX said.

TOX measures how much a buyer is overpaying or underpaying on a property based on SRX Property’s computer-generated market value.

District 11 – comprising Watten Estate, Novena and Thomson estates – posted the highest median TOX at positive $89,000, suggesting a majority of the buyers in that district purchased units above the computer-generated market value.

District 27 – formed by Yishun and Sembawang estates – posted a negative TOX of $15,000, meaning that a majority of the buyers in that district potentially purchased units below the computer-generated market value.

Source: Straits Times

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