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CCR increased by 2.8% in July 2024, both RCR and OCR also increased by 0.4%.
According to the SRX Price Index for Condo Resale:
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Month-on-month, overall prices increased by 0.8% compared to June 2024.
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Year-on-year, overall prices increased by 5.5% compared to July 2023.
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Year-on-year, CCR, RCR, and OCR experienced price increases of 2%, 7.1%, 6%, respectively.
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An estimated 1,075 units were resold in July 2024, a 32.2% increase from the 813 units resold in June 2024.
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Volumes were 21.7% higher than in July 2023 and 9% higher than the 5-year average volumes for July.
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Breaking it down by region, in July 2024, 51.9% of the volume were from OCR, 31.1% from RCR, and 17% from CCR.
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The percentage of sub-sale transactions to the total secondary sale transactions (i.e., Resale + Sub-Sale) is 7.1% in July 2024, a 5% decrease from June 2024.
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Sub-sale transactions refer to secondary sale transactions that happened before the project was completed.
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The highest transacted price for a resale unit in July was achieved at S$14,200,000 at Nassim Park Residences.
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In RCR, the highest transacted price was a unit at Corals at Keppel Bay resold for S$6,780,000.
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In OCR, the highest transacted price was a unit at Ocean Park resold for S$5,680,000.
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The overall median capital gain for resale condos was S$379,000 in July 2024, an increase of S$58,000 from June 2024.
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District 15 (East Coast / Marine Parade) posted the highest median capital gain at S$631,000. District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median capital gain at -S$67,000.
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The overall median unlevered return for resale condos was 31.4% in July 2024.
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District 21 (Clementi Park / Upper Bukit Timah) posted the highest median unlevered return at 49.7%. District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median unlevered return at -4.8%.
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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.
