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Private condo resale prices fall 0.5% in July

That prices and deals rose y-o-y, despite falling m-o-m, is evidence that the market is still on the mend: consultant

Published Tue, Aug 8, 2017 · 09:50 PM

Singapore

RESALE prices of private condominiums and apartments fell 0.5 per cent in July, after rising 0.7 per cent in June, SRX Property data showed on Tuesday.

By region, both the Core Central Region and Rest of Central Region (referring to the city fringe) recorded a price increase of 0.6 per cent and 0.4 per cent respectively, while the Outside Central Region (referring to the suburbs) price index fell by 1.9 per cent.

Usually, a resurgence in primary market activity tends to give a boost to transaction prices in the resale market. However, ZACD Group's head of research and consultancy Nicholas Mak said that the decline in prices in July could be a correction after resale prices climbed 2.7 per cent from Jan…