Condo Resale Prices Decreased For The First Time In 5 Months. Volumes Flat.

1. CCR and OCR prices increase by 1.4% and 0.2% while RCR prices decrease by 0.6% in January 2024. 

According to the SRX Price Index for Condo Resale:

• Month-on-month, overall prices decrease by 0.8% over December 2023.

• Year-on-year, overall prices increase by 7.2% over January 2023.

• Year-on-year, all regions experience price increases: CCR by 2.4%, RCR by 7.9% and OCR by 9.9%.
  
  
  
  

2. An estimated 740 units were resold in January 2024, a 0.6% decrease from the 745 units resold in December 2023. 

• Volumes are 43.7% higher than in January 2023, and 0.4% higher than the 5-year average volumes for the month of January.

• Breaking it down by region, in January 2024, 53.8% of the volume were from OCR, 27.3% from RCR and 18.9% from CCR.

• January 2024 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 11.6%.

• This is a 2.5% decrease from December 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 January is achieved at $16,500,000 at The Ritz-Carlton Residences Singapore Cairnhill.

• In RCR, the highest transacted price is a unit at Meyerhouse resold for $9,280,000.

• In OCR, the highest transacted price is a unit at Grand Duchess At St Patrick’s resold for $3,900,000.

4. The overall median capital gain for resale condos is $353,000 in January 2024, an increase of $42,000 from December 2023.

• District 11 (Newton / Novena) posts the highest median capital gain at $668,000. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median capital gain at $5,000.
  
  
  
  

5. The overall median unlevered return for resale condos is 30.0% in January 2024.

• District 26 (Mandai / Upper Thomson) posts the highest median unlevered return at 73.8%. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median unlevered return at 2.4%.

• 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.