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Private condo resale prices fall 0.5% in July on 10% drop in volume: SRX

City Developments' executive chairman Kwek Leng Beng once more called for the government to ease land-banking measures for property developers, even as residential prices seem to recovering.

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.

Year on year, prices in July were up by 2 per cent from a year ago.

Year to date, prices have increased 2.2 per cent.

Transactions wise, the resale volume fell by 9.7 per cent to an estimated 952 units resold in July. This compared to 1,054 units resold in June 2017.

Year on year, July's resale volume was 20.1 per cent higher compared to 793 units resold in July 2016.

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