Condo Resale Prices Remained Stable, While Sales Volume Decreased by 17.5% in May 2025

1. In May 2025, condo resale prices in CCR and OCR increased by 0.2% and 0.3%, respectively. However, RCR decreased by 0.5%.

According to the SRX Price Index for Condo Resale:

• Month-on-month, overall prices slightly decreased.

• Year-on-year, overall prices increased by 5.3% compared to May 2024.

• Year-on-year, CCR, RCR, and OCR experienced price increases of 5.9%, 4.6%, and 5.3%, respectively.

2. An estimated 968 units were resold in May 2025, a decrease of 17.5% from the 1,173 units resold in April 2025.

• Resale volumes were 20.3% lower than in May 2024 and 3.4% lower than the 5-year average for May.

• Breaking it down by region, in May 2025, 49.4% of the volumes were from OCR, 33.2% from RCR, and 17.4% from CCR.

• The percentage of sub-sale transactions to the total secondary sale transactions (i.e., Resale + Sub-Sale) was 6.7% in May 2025, which decreased from April 2025.

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

3. The highest transacted price for a resale unit in May was S$9,000,888 at Wing on Life Garden.

• In RCR, the highest transacted price was S$5,500,000 for a resale unit at Pebble Bay.

• In OCR, the highest transaction was a unit at Kovan Residences, which resold for S$4,399,000.

4. The overall median capital gain for resale condos was S$365,000 in May 2025, a decrease of S$35,000 from April 2025.

• District 22 (Boon Lay / Jurong / Tuas) posted the highest median capital gain at S$861,000. District 4 (Sentosa / Harbourfront) posted the lowest median capital gain at S$100,000.

5. The overall median unlevered return for resale condos was 30.6% in May 2025.

• District 22 (Boon Lay / Jurong / Tuas) posted the highest median unlevered return at 112.9%. District 4 (Sentosa / Harbourfront) posted the lowest median unlevered return at 5%.

• 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.