Condo Resale Prices Wraps Up 2023 With 5 Consecutive Months of Increase; Volume Slightly Dips. | Singapore Property News

Condo Resale Prices Wraps Up 2023 With 5 Consecutive Months of Increase; Volume Slightly Dips.

25 Jan 2024
Property Data
  1. CCR and OCR prices decreased by 0.5% and 1.2% while RCR prices increased by 0.6% in December 2023. 

According to the SRX Price Index for Condo Resale:

  • Month-on-month, overall prices increased by 0.5% over November 2023. 

  • Year-on-year, overall prices increased by 7.5% over December 2022.

  • Year-on-year, all regions experience price increases: CCR by 4.0%, RCR by 8.3% and OCR by 8.2%.

    fig1 spi

    fig2 spi region

 

  1. An estimated 743 units were resold in December 2023, a 10.4% decrease from the 829 units resold in November 2023. 

  • Volumes are 7.1% higher than in December 2022, and 11.7% lower than the 5-year average volumes for the month of December.

  • Breaking it down by region, in December 2023, 51.0% of the volume were from OCR, 31.7% from RCR and 17.3% from CCR.

  • December 2023 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 13.0%.

  • This is a 1.0% increase from November 2023 Percentage. 

  • Sub Sale transactions refer to secondary sale transactions that happened before the project is completed.

    fig3 vol pie


     Amended  fig4 subsale

 

  1. The highest transacted price for a resale unit in December is achieved at $12,500,000 at Four Seasons Park.


  • In RCR, the highest transacted price is a unit at Corals at Keppel Bay resold for $8,400,000.


  • In OCR, the highest transacted price is a unit at The Trilinq resold for $4,000,000.

 

  1. The overall median capital gain for resale condos is $314,000 in December 2023, an decrease of $13,000 from November 2023.

 

  • District 26 (Mandai / Upper Thomson) posts the highest median capital gain at $748,000. District 8 (Farrer Park / Serangoon Rd) posts the lowest median capital gain at $100,000.

    fig5 mediancap

    fig6 mediancap district

 

  1. The overall median unlevered return for resale condos is 28.6% in December 2023.

 

  • District 26 (Mandai / Upper Thomson) posts the highest median unlevered return at 55.7%. District 2 (Chinatown / Tanjong Pagar) posts the lowest median unlevered return at 10.4%.

  • 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.

    fig7 unlevered

    fig8 unlevered district


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