CCR prices increase by 1.1% while RCR and OCR prices both decrease by 0.2% in July 2023.
According to the SRX Price Index for Condo Resale:
- Month-on-month, overall prices decrease by 0.2% over June 2023.
- Year-on-year, overall prices increase by 7.4% over July 2022.
- Year-on-year, all regions experience price increases: CCR by 3.7%, RCR by 8.4% and OCR by 9.0%.
- An estimated 836 units are resold in July 2023, a 4.0% increase from the 804 units resold in June 2023.
- Volumes are 17.7% lower than in July 2022, and 17.6% lower than the 5-year average volumes for the month of July.
- Breaking it down by region, in July 2023, 52.2% of the volumes are from OCR, 29.5% from RCR and 18.3% from CCR.
- July 2023 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 9.2%.
- This is a 0.3% increase from June 2023 Percentage.
- Sub Sale transactions refer to secondary sale transactions that happened before the project is completed.
3. The highest transacted price for a resale unit in July is achieved at $18,000,000 at Beverly Hill.
- In RCR, the highest transacted price is a unit at Pebble Bay resold for $9,000,000.
- In OCR, the highest transacted price is a unit at The Petals resold for $4,188,888.
4. The overall median capital gain for resale condos is $310,000 in July 2023, an increase of $20,000 from June 2023.
- District 10 (Tanglin/ Holland) posts the highest median capital gain at $840,000. District 2 (Chinatown/ Tanjong Pegar) posts the lowest median capital gain at $134,000.
- The overall median unlevered return for resale condos is 26.9% in July 2023.
District 23 (Bukit Batok/ Bukit Panjang/ Choa Chu Kang) posts the highest median unlevered return at 50.7%. District 9 (Orchard/ River Valley) posts the lowest median unlevered return at 13.8%.
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.