Private apartment, condo resale prices inch up 0.1% m-o-m in Sept: SRX Property

RESALE prices of private apartments and condos in Singapore inched up 0.1 per cent month on month in September 2017, based on SRX Property's latest flash estimate.

This follows a revised 0.9 per cent month-on-month rise in SRX Property's overall resale price index for non-landed private homes in August 2017.

Year on year, the index for September 2017 is up 4.3 per cent from September 2016. That said, from the peak in January 2014, the index is down 4.1 per cent.

SRX Property's breakdown of year-on-year price performance by region showed that its sub-index for the city fringe or Rest of Central Region was the best performer, expanding 7 per cent, followed by a 4.6 per cent gain for the prime area or Core Central Region. In the suburbs or Outside Central Region, the index rose 2.3 per cent.

SRX Property also estimated that 1,162 private apartments and condo units were likely to have been resold last month, reflecting a decrease of 10.9 per cent month on month from the 1,304 units resold in August 2017. However, year on year, the resale volume for September 2017 was 64.8 per cent higher than the 705 units resold in September 2016.

The latest resale volume was down 43.3 per cent from the peak of 2,050 units in April 2010.