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CCR and OCR prices increase by 0.2% and 0.1% while RCR prices remain the same in February 2024.
According to the SRX Price Index for Condo Resale:
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Month-on-month, overall prices increase by 0.2% over January 2024.
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Year-on-year, overall prices increase by 6.1% over February 2023.
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Year-on-year, all regions experience price increases: CCR by 2.8%, RCR by 6.1% and OCR by 7.6%.
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An estimated 760 units were resold in February 2024, a 1.2% increase from the 751 units resold in January 2024.
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Volumes are 0.9% higher than in February 2023, and 5.0% higher than the 5-year average volumes for the month of February.
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Breaking it down by region, in February 2024, 43.8% of the volume were from OCR, 35.6% from RCR and 20.5% from CCR.
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February 2024 Percentage of Sub Sale transactions to the total secondary sale transactions (i.e. Resale+Sub Sale) is 11.1%.
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This is a 1.2% decrease from January 2024 Percentage.
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Sub Sale transactions refer to secondary sale transactions that happened before the project is completed.
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The highest transacted price for a resale unit in February is achieved at $12,900,000 at Ardmore Park.
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In RCR, the highest transacted price is a unit at The Interlace resold for $5,315,000.
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In OCR, the highest transacted price is a unit at Kew Green resold for $3,250,000.
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The overall median capital gain for resale condos is $368,000 in February 2024, an increase of $21,000 from January 2024.
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District 15 (East Coast / Marine Parade) posts the highest median capital gain at $725,000. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median capital gain at -$85,000.
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The overall median unlevered return for resale condos is 29.5% in February 2024.
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District 22 (Boon Lay / Jurong / Tuas) posts the highest median unlevered return at 57.1%. District 1 (Boat Quay / Raffles Place / Marina) posts the lowest median unlevered return at -2.2%.
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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.
