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OCR prices increase by 1.0% in December 2022 while CCR and RCR prices decrease by 0.2% and 0.6% respectively.
According to the SRX Price Index for Condo Resale:
- Month-on-month, overall prices increase by 0.8% over November 2022.
- Year-on-year, overall prices increase by 9.7% over December 2021.
- Year-on-year, all regions experience price increases: CCR by 5.8%, RCR by 8.4% and OCR by 11.2%.
- An estimated 661 units are resold in December 2022, a 14.0% decrease from the 769 units resold in November 2022.
- Volumes are 49.0% lower than in December 2021, and 25.1% lower than the 5-year average volumes for the month of December.
- Breaking it down by region, in December 2022, 53.2% of the volumes are from OCR, 30.3% from RCR and 16.5% from CCR.
- 2022 total resale condo volumes are estimated to be 11,949 which is 26.1% lower than 2021.
3. The highest transacted price for a resale unit in November is achieved at $13,800,000 at Paterson Suites.
- In RCR, the highest transacted price is a unit at MeyerHouse resold for $7,552,000.
- In OCR, the highest transacted price is a unit at Kovan Regency resold for $3,050,000.
4. The overall median capital gain for resale condos is $281,000 in December 2022, an increase of $4,000 from November 2022.
- District 21 (Clementi Park / Upper Bukit Timah) posts the highest median capital gain at $895,000. District 13 (MacPherson / Potong Pasir) posts the lowest capital gain at $150,000.
- The overall median unlevered return for resale condos is 25.8% in December 2022.
- District 21 (Clementi Park / Upper Bukit Timah) posts the highest median unlevered return at 134.6%. District 4 (Harbourfront / Telok Blangah) posts the lowest median unlevered return at 11.8%.
- 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.
Footnote:
We have changed our NLP Resale data source to be using only official transactions from URA. Previously agency transactions and official transactions were used. The ‘month’ in this report now refers to the month where the caveat was lodged instead of the month when the caveat was lodged OR when contract was submitted to the agency OR when OTP was signed, whichever was recorded first in our database.