Singapore condo resale volume up 0.4% in September: SRX

Resale volume of non-landed private homes in Singapore rose 0.4 per cent to about 1,286 units resold in September 2020, from 1,281 units resold in August 2020.

Volumes were up 62.8 per cent from September 2019 and 64.5 per cent higher than the five-year average volumes for the month of September.

Overall prices meanwhile, edged up 0.1 per cent month on month and year on year.

By region, resale prices in the core central region (CCR) were up 0.5 per cent on the month and up 0.8 per cent in the rest of central region (RCR) or city fringes. Resale prices in the outside of central region (OCR) dropped 0.5 per cent.

On a year-on-year basis, condo prices in the RCR and OCR rose 1 per cent and 1.2 per cent respectively, while CCR prices fell by 4 per cent.

In terms of resale volume in September 2020, 56.4 per cent was from the OCR, 25.3 per cent from the RCR and 18.3 per cent from the CCR.

A unit at Le Nouvel Ardmore fetched the highest transacted price in the month at S$16.2 million. In the RCR, the highest transacted price was for a unit at Camelot By The Water resold for S$5.1 million. In the OCR, the highest transacted price was for a unit at The Trilinq resold for S$4.8 million.

SRX said the overall transaction over X-value (TOX) for September was zero, up S$3,000 from August 2020.

District 15 (East Coast, Marine Parade) and District 21 (Clementi Park, Upper Bukit Timah) posted the highest median TOX at positive S$10,000, while District 26 (Mandai, Upper Thomson) posted the lowest median TOX at negative S$13,800.

TOX measures how much a buyer is overpaying (positive value) or underpaying (negative value) for a property based on SRX’s computer-generated market value. The data includes only districts with more than 10 resale transactions.

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