Condo Resale Prices Increased by 1.2% in November 2024, While Volumes Decreased by 5.8% Across All Regions

1. In November 2024, condo resale prices in CCR, RCR, and OCR increased by 0.6%, 0.5%, and 0.8%, respectively.

According to the SRX Price Index for Condo Resale:

• Month-on-month, overall prices increased by 1.2%.

• Year-on-year, overall prices increased by 4.2% compared to November 2023.

• Year-on-year, CCR, RCR, and OCR experienced price increases of 1.6%, 4.3%, and 3.6%, respectively.

2. An estimated 1,023 units were resold in November 2024, a decrease of 5.8% from the 1,086 units resold in October 2024.

• Resale volumes were 19.8% higher than in November 2023 and 8.4% higher than the 5-year average volume for November.

• Breaking it down by region, in November 2024, 50.9% of the volumes were from OCR, 31.6% from RCR, and 17.5% from CCR.

• The percentage of sub-sale transactions to the total secondary sale transactions (i.e., Resale + Sub-Sale) was 6.6% in November 2024, which decreased from October 2024.

• Sub-sale transactions refer to secondary sale transactions before the project was completed.

3. The highest transacted price for a resale unit in November was S$13,000,000 at Leedon Residence.

• In RCR, the highest transacted price was S$9,200,000 for a resale unit at Silversea.

• In OCR, the highest transaction was a unit at The Trilinq which resold for S$4,580,000.

4. The overall median capital gain for resale condos was S$380,000 in November 2024, an increase of S$19,000 from October 2024.

• District 22 (Boon Lay / Jurong / Tuas) posted the highest median capital gain at S$660,000. District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median capital gain at S$146,000.

5. The overall median unlevered return for resale condos was 30.4% in November 2024.

• District 22 (Boon Lay/Jurong/Tuas) posted the highest median unlevered return at 56.7%. District 1 (Boat Quay/Raffles Place/Marina) posted the lowest median unlevered return at 12.3%.

• The condo resale unit's capital gain and return are calculated by comparing the current transacted price with the previous transacted price of the same unit. Districts with less than 10 matching transactions are excluded from the ranking.