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RCR and OCR prices increase by 1.2% and 1.6% while CCR prices decrease by 2.8% in March 2024.
According to the SRX Price Index for Condo Resale:
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Month-on-month, overall prices increase by 0.4% over February 2024.
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Year-on-year, overall prices increase by 5.0% over March 2023.
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Year-on-year, all regions experience price increases: CCR by 1.5%, RCR by 5.6% and OCR by 7.1%.
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An estimated 883 units were resold in March 2024, a 17.4% increase from the 752 units resold in February 2024.
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Volumes are 22.8% lower than in March 2023, and 12.0% lower than the 5-year average volumes for the month of March.
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Breaking it down by region, in March 2024, 48.2% of the volume were from OCR, 31.6% from RCR and 20.2% from CCR.
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March 2024 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 8.1%.
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This is a 4.3% decrease from February 2024 Percentage.
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Sub Sale transactions refer to secondary sale transactions that happened before the project is completed.
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The highest transacted price for a resale unit in March is achieved at $7,050,000 at Astrid Meadows.
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In RCR, the highest transacted price is a unit at Corals at Keppel Bay resold for $8,700,000.
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In OCR, the highest transacted price is a unit at Seaside Residences resold for $3,410,000.
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The overall median capital gain for resale condos is $380,000 in March 2024, an increase of $20,000 from February 2024.
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District 11 (Newton / Novena) posts the highest median capital gain at $823,000. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median capital gain at -$63,000.
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The overall median unlevered return for resale condos is 33.4% in March 2024.
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District 26 (Mandai / Upper Thomson) posts the highest median unlevered return at 63.3%. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median unlevered return at -5.8%.
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The capital gains and returns of a condo resale unit are calculated by comparing the current transacted price with the previous transacted price of the same unit. Districts with fewer than 10 matching transactions are excluded from the ranking.
