-
CCR prices increase by 2.5% in January 2023 while RCR and OCR prices decrease by 0.2% and 1.2% respectively.
According to the SRX Price Index for Condo Resale:
-
Month-on-month, overall prices decrease by 0.6% over December 2022.
-
Year-on-year, overall prices increase by 8.6% over January 2022.
-
Year-on-year, all regions experience price increases: CCR by 6.4%, RCR by 7.8% and OCR by 9.7%.
-
An estimated 519 units are resold in January 2023, a 22.6% decrease from the 671 units resold in December 2022.
-
Volumes are 43.2% lower than in January 2022, and 35.5% lower than the 5-year average volumes for the month of January.
-
Breaking it down by region, in January 2023, 48.7% of the volumes are from OCR, 30.6% from RCR and 20.7% from CCR.
3. The highest transacted price for a resale unit in January is achieved at $15,500,000 at Boulevard Vue.
-
In RCR, the highest transacted price is a unit at Reflections At Keppel resold for $4,500,000.
-
In OCR, the highest transacted price is a unit at The Palette resold for $2,730,000.
4. The overall median capital gain for resale condos is $278,000 in January 2023, a decrease of $12,000 from December 2022.
-
District 21 (Clementi Park / Upper Bukit Timah) posts the highest median capital gain at $580,000. District 4 (Harbourfront / Telok Blangah) posts the lowest capital gain at $25,000.
-
The overall median unlevered return for resale condos is 23.9% in January 2023.
- District 16 (Bedok / Upper East Coast) posts the highest median unlevered return at 72.3%. District 4 (Harbourfront / Telok Blangah) posts the lowest median unlevered return at 1.1%.
- 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.