Private Resale Non-Landed Prices Remain Unchanged in April; Volume Drops 21.0% | Singapore Property News

Private Resale Non-Landed Prices Remain Unchanged in April; Volume Drops 21.0%

09 May 2017
Property Data
1. Non-landed Private Residential Resale Prices unchanged in April 2017. Non-landed Private Residential Resale prices remain unchanged at 0.0% in April 2017 compared to March 2017. In individual sectors, RCR and OCR recorded a price increase of 1.2%, 0.1% respectively, while in CCR recorded a price decrease by 1.2%.



According to the SRX Non-Landed Private Residential Price Index:

∙         Year-on-year, prices in April 2017 increased by 1.8% from April 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 4.6%, 1.6%, 0.5% respectively.

∙         April 2017 prices were down by 5.4% from the recent peak in January 2014.

∙         Price change in March 2017 was revised from 0.5% to 0.8%.

2. Resale volume decreases by 21.0%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 907 Non-landed Private Residential units were resold in April 2017. This is a 21.0% decrease compared to 1148 units resold in March 2017.


∙         Year-on-year, resale volume in April 2017 was 48.0% higher compared to 613 units resold in April 2016;

∙         Resale volume was down by 55.8% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is $5,000 in April 2017. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

         The median T-O-X in April 2017 is $5,000. This is a $5,000 increase compared to ZERO in March 2017.

4. Districts 16 and 21 post highest median T-O-X. For districts with more than 10 resale transactions in April 2017, District 16 (Bedok and Upper East Coast) and 21 (Clementi Park and Upper Bukit Timah) posted the highest median T-O-X at POSITIVE $37,000.


This means that a majority of the buyers in those districts purchased units above the computer-generated market value.

5. Among relatively active districts, District 11 posts the most negative median T-O-X. District 11 (Newton and Novena) posted a T-O-X of NEGATIVE -$40,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

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