Private Resale Non-Landed Prices Increase 0.4% in May; Volume Increases 17.4%

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

• Year-on-year, prices in May 2017 increased by 1.5% from May 2016. In individual sectors, CCR, RCR recorded a year-on-year price increase of 3.5% and 2.3% respectively, while OCR recorded a year-on-year price decrease of 0.2%.

• May 2017 prices were down by 5.2% from the recent peak in January 2014.

• Year-to-date, prices increase by 2.1% in comparison to January 2017.

• Price change in April 2017 was revised from 0.0% to -0.2%.

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• Year-on-year, resale volume in May 2017 was 57.7% higher compared to 783 units resold in May 2016;

• Resale volume was down by 39.8% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is $2,000 in May 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 May 2017 is $2,000. This is a $3,000 decrease compared to $5,000 in April 2017.

 
4. Districts 4 post highest median T-O-X. For districts with more than 10 resale transactions in May 2017, District 4 (Harbourfront and Telok Blangah) posted the highest median T-O-X at POSITIVE $60,000.

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 17 posts the most negative median T-O-X. District 17 (Changi) posted a T-O-X of NEGATIVE $21,000.

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