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CCR and RCR prices increase by 2.3% and 1.7% respectively while OCR prices decrease by 0.3% in April 2023.
According to the SRX Price Index for Condo Resale:
- Month-on-month, overall prices increase by 1.2% over March 2023.
- Year-on-year, overall prices increase by 8.7% over April 2022.
- Year-on-year, all regions experience price increases: CCR by 3.8%, RCR by 9.9% and OCR by 9.5%.
- An estimated 919 units are resold in April 2023, a 17.9% decrease from the 1,119 units resold in March 2023.
- Volumes are 29.7% lower than in April 2022, and 12.9% lower than the 5-year average volumes for the month of April.
- Breaking it down by region, in April 2023, 52.1% of the volumes are from OCR, 30.2% from RCR and 17.8% from CCR.
3. The highest transacted price for a resale unit in April is achieved at $18,000,000 at Sculptura Ardmore.
- In RCR, the highest transacted price is a unit at Reflections At Keppel Bay resold for $7,900,000.
- In OCR, the highest transacted price is a unit at Ocean Park resold for $3,680,000.
4. The overall median capital gain for resale condos is $314,000 in April 2023, an increase of $8,000 from March 2023.
- District 11 (Novena/ Newton/ Thomson) posts the highest median capital gain at $780,000. District 2 (Chinatown/ Tanjong Pagar) posts the lowest capital gain at $36,000.
- The overall median unlevered return for resale condos is 27.0% in April 2023.
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District 11 (Novena/ Newton/ Thomson) posts the highest median unlevered return at 38.3%. District 2 (Chinatown/ Tanjong Pagar) posts the lowest median unlevered return at 2.1%.
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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.
