Resale prices of condos rose 0.4% m-o-m in Dec: SRX

RESALE prices of non-landed private homes in Singapore rose 0.4 per cent month on month in December 2016 based on SRX Property's flash estimate. This follows a 0.5 per cent gain in November 2016.

In December 2016, prices climbed 1.2 per cent in the suburbs or Outside Central Region (OCR) but eased 0.5 per cent in the city-fringe or Rest of Central Region (RCR). In the prime area or Core Central Region (CCR), prices were unchanged.

Year-on-year, the December 2016 overall resale price index for private apartments and condo units inched up 0.1 per cent. The sub-indices for RCR and OCR slipped 0.9 per cent and 0.4 per cent respectively, while prices in the CCR appreciated 1.8 per cent over the same period.

SRX Property noted that overall resale prices of private apartments and condos for December 2016 were 7.8 per cent below the recent peak in January 2014.

It estimated that 484 private apartments and condos were likely to have been resold last month - reflecting a 21.7 per cent m-o-m drop but up 6.8 per cent year on year.