Singapore condo resale prices dip 0.3% in Feb; volume down 11%

RESALE prices of non-landed private homes in Singapore dipped 0.3 per cent in February 2016, after increasing 0.8 per cent in January.

Core Central Region recorded no change, while Rest of Central Region (city fringe) recorded a price increase of 0.1 per cent. Outside Central Region (suburbs) posted a 0.8 per cent decrease in prices.

This was according to data released by SRX Property on Tuesday.

Year on year, prices last month fell 1.6 per cent from February 2015.

February 2016 prices were down by 7.4 per cent from the recent peak in January 2014.

Resale volume fell by 10.8 per cent last month. About 356 units were resold compared to 399 units in January. Year on year, resale volume last month was 3.8 per cent higher compared to 343 units in February 2015.

Compared to its peak of 2,050 units resold in April 2010, resale volume was down by 82.6 per cent in February 2016.