1. Non-landed Private Residential Resale Prices increase in May 2016. Non-landed Private Residential Resale prices increased by 0.4% in May 2016 compared to April 2016. In individual sectors, CCR, RCR and OCR recorded a price increase of 0.4%, 0.3% and 0.5%, respectively.
4. District 11 posts highest median T-O-X. For districts with more than 10 resale transactions in May 2016, District 11 (Watten Estate, Novena, Thomson) posted the highest median T-O-X at POSITIVE 16,000.
According to the SRX Non-landed Private Residential Price Index:
- Year-on-year, prices in May 2016 increased by 0.2% from May 2015. In individual sectors, CCR and RCR posted a year-on-year price increase of 4.7% and 0.6%, respectively, while OCR recorded a year-on-year price decrease of 2.0%;
- May 2016 prices were down by 6.7% from the recent peak in January 2014;
- Price change in April 2016 was revised from 0.5% INCREASE to 0.6% INCREASE.
- Year-on-year, resale volume in May 2016 was 35.3% higher compared to 621 units resold in May 2015;
- A significant contributor to the increase in volume is the greater number of resales in OUE Twin Peaks under the ‘deferred payment’ scheme;
- Resale volume was still down by 59.0% compared to its peak of 2,050 units resold in April 2010.
- The median T-O-X in May 2016 is NEGATIVE $8,000. This is a $1,000 increase compared to NEGATIVE $9,000 in April 2016.
4. District 11 posts highest median T-O-X. For districts with more than 10 resale transactions in May 2016, District 11 (Watten Estate, Novena, Thomson) posted the highest median T-O-X at POSITIVE 16,000.
This means that a majority of the buyers in this district purchased units above the computer-generated market value.
5. Among relatively active districts, District 17 posts the most negative median T-O-X. District 17 (Changi, Loyang) posted a T-O-X of NEGATIVE $36,000.
This means that a majority of the buyers in these districts purchased units below the computer-generated market value.
Source: SRX