Condo Resale prices increase slightly despite lower resale volume in the month of September;

1. CCR and RCR prices increased by 0.5% and 1.2% while OCR prices decreased by 0.4% in September 2023. 

According to the SRX Price Index for Condo Resale:

• Month-on-month, overall prices increased by 0.8% over August 2023. 

• Year-on-year, overall prices increased by 7.6% over September 2022.

• Year-on-year, all regions experience price increases: CCR by 3.8%, RCR by 8.1% and OCR by 7.7%.

2. An estimated 738 units were resold in September 2023, an 18.4% decrease from the 905 units resold in August 2023. 

• Volumes are 35.9% lower than in September 2022, and 22.0% lower than the 5-year average volumes for the month of September.

• Breaking it down by region, in September 2023, 53.1% of the volume were from OCR, 31.4% from RCR and 15.5% from CCR.

• September 2023 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 10.8%.

• This is a 1.2% decrease from August 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 September is achieved at $32,000,000 at GOODWOOD RESIDENCE.

• In RCR, the highest transacted price is a unit at The Cascadia resold for $7,260,000.

• In OCR, the highest transacted price is a unit at Seaside Residences resold for $4,060,000.

4. The overall median capital gain for resale condos is $350,000 in September 2023, an increase of $32,000 from August 2023. 

• District 21 (Clementi Park / Upper Bukit Timah) posts the highest median capital gain at $894,000. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median capital gain at $14,000.

5. The overall median unlevered return for resale condos is 29.2% in September 2023.

• District 21 (Clementi Park / Upper Bukit Timah) posts the highest median unlevered return at 70.8%. District 1 (Boat Quay / Raffles Place / Marina) 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.