Forgot your password?
or

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at feedback@srx.com.sg

ON TRACK

Achieve the life you want, in the home you love
Property News13 Jun 2018

Condo resale prices rise 1.2% to new high in May


NLP Resale FB 01

SINGAPORE - Prices of private condominiums and apartments continued their climb in May, hitting a new high although volumes dipped slightly, according to flash data from real estate portal SRX Property released on Tuesday (June 12).

This comes as the monthly price increase for April 2018 was revised sharply upwards to 1.2 per cent, from SRX's earlier estimate of a 0.6 per cent rise.

Resale prices of non-landed private properties last month rose 1.2 per cent compared to April and jumped 10.8 per cent from last May, according to the SRX estimates.

Resale prices in the prime district, or core central region (CCR), hit a new high, after increasing 1.3 per cent over the previous month. Those outside of central region (OCR) rose 1.8 per cent month-on-month, while prices in the rest of central region (CCR) remained unchanged.

Compared to last year, resale prices increased across all locations, with the CCR, RCR and OCR recording rises of 11.2 per cent, 11.4 per cent, and 9.9 per cent respectively.

Resale volume stood at 1,560 units, 0.6 per cent lower than the 1,570 units resold in April, but 25.5 per cent higher than the 1,243 units moved in May 2017.

However, resale transactions were still lower by 23.9 per cent compared to the peak of 2,050 units in April 2010.

Overall median transaction over X-value (TOX) was positive $18,000 in May, a decrease of $2000 compared to the previous month's showing.

online 180612 price chart

TOX measures how much a buyer is overpaying or underpaying on a property based on SRX Property's computer-generated market value.

Among areas with more than 10 resale transactions in May, District 9's Orchard, Cairnhill and River Valley posted the highest median TOX at positive $80,000 which suggests that a majority of the buyers in that district purchased units above the computer-generated market value.

Meanwhile, the Kranji and Woodgrove areas that constitute District 25 recorded the most negative median TOX of a negative $7,000, suggesting that a majority of the buyers in that district purchased units below the computer-generated market value.

District 27 - formed by Yishun and Sembawang estates - posted a negative TOX of $15,000, meaning that a majority of the buyers in that district potentially purchased units below the computer-generated market value.

Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
MY PROPERTY
CONCIERGE
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
ON TRACK
Property News 13 November
HDB launches over 7,000 flats for sale, including first BTO project in Tengah
The Housing Board launched 7,214 flats for sale on Tuesday (Nov 13) under the Build-to-Order (BTO) and Sale of Balance Flats exercise for November.
Property News 13 November
2 Chinatown shophouses on sale for around $32.8m

Two prime three-storey conservation shophouses in Chinatown are on the market.

One is a freehold unit at 31 Pagoda Street; the other is a 99-year leasehold property down the road at number 76. Both are zoned "commercial" and have been approved for use as food and beverage outlets.

Property News 09 November
SRX Property website, app add function for switching electricity retailer

Households can save on their power bills by switching their electricity retailer online in just a few clicks with a new service launched on Friday by real-estate services provider SRX Property .

Property News 09 November
SRX Property makes switching electricity retailer simple
SRX Property, Singapore’s most comprehensive resource for real estate, today announced the launch of electricity switching on srx.com.sg and the mySG Home App. The new service makes it fast and easy for households to save on their power bills by switching electricity retailer online in just a few clicks.

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
Sevi
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.