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RCR and OCR prices continues to increase by 1.6% and 2.1% respectively while CCR prices decrease by 0.7% in March 2023.
According to the SRX Price Index for Condo Resale:
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Month-on-month, overall prices increase by 1.4% over February 2023.
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Year-on-year, overall prices increase by 8.6% over March 2022.
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Year-on-year, all regions experience price increases: CCR by 4.1%, RCR by 9.4% and OCR by 11.0%.
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An estimated 1,133 units are resold in March 2023, a 53.9% increase from the 736 units resold in February 2023.
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Volumes are 0.2% higher than in March 2022, and 13.9% higher than the 5-year average volumes for the month of March.
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Breaking it down by region, in March 2023, 49.9% of the volumes are from OCR, 28.8% from RCR and 21.4% from CCR.
3. The highest transacted price for a resale unit in March is achieved at $22,000,000 at Nassim Park Residences.
- In RCR, the highest transacted price is a unit at Reflections At Keppel Bay resold for $17,000,000.
- In OCR, the highest transacted price is a unit at The Trilinq resold for $4,120,000.
4. The overall median capital gain for resale condos is $311,000 in March 2023, an increase of $13,000 from February 2023.
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District 11 (Novena/ Newton/ Thomson) posts the highest median capital gain at $654,000. District 2 (Chinatown/ Tanjong Pagar) posts the lowest capital gain at $43,000.
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District 1 (Boat Quay/ Raffles Place/ Marina) posts a capital loss at -$10,000.
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The overall median unlevered return for resale condos is 27.6% in March 2023.
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District 17 (Loyang/ Changi) posts the highest median unlevered return at 59.6%. District 1 (Boat Quay/ Raffles Place/ Marina) posts the lowest median unlevered return at -0.4%.
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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.
