Resale condo prices end 4-month losing streak, Latest Singapore News - The New Paper

Resale condo prices end 4-month losing streak

This article is more than 12 months old

Resale prices of condominium units and apartments inched up 0.3 per cent in November from October, according to data released yesterday.

Last month's rise reversed a 0.7 per cent month-on-month drop in October, which was the fourth straight month of decline.

But resale prices in November were down 1 per cent from the same month last year and 8.3 per cent below the peak in January 2014, flash estimates from SRX Property showed.

Prices in the city fringe were down 1.5 per cent year-on-year while those in outlying districts fell 2.6 per cent. Resale values in prime districts were up 2.3 per cent last month from the same month last year.

The number of resale transactions fell 8.8 per cent to 581.

Resale volume was 21.3 per cent higher than the 479 deals in November 2015, but down 71.7 per cent on the 2,050 units resold in the peak month of April 2010.

Sellers last month continued to offload homes below the estimated computer-generated market value, but the margin narrowed significantly.

SRX's median Transaction Over X-Value (TOX) in November was -$3,000 compared with -$10,000 in October.

For districts with more than 10 resale transactions last month, district 4 (Mount Faber, Telok Blangah, Harbourfront) posted the highest median TOX of +25,000.

Among relatively active districts, 22 (Boon Lay, Jurong, Tuas) and 27 (Sembawang, Yishun, Admiralty) had the most negative median TOX of -$20,000.