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Singapore condo resale prices ease in November: SRX
RESALE prices for non-landed private residential properties in Singapore dipped slightly in November after two straight months of increase. Sales volumes also declined, according to flash figures from real estate portal SRX Property on Tuesday.
Condominium resale prices fell 0.1 per cent in November from the previous month, compared with a 0.8 per cent rise in October. Volumes, meanwhile, fell 7.2 per cent, with 801 units resold in November, compared with 863 units in October.
Overall prices rose 1.5 per cent from a year ago, while volumes were 25 per cent higher year on year, and 10.7 per cent higher than the five-year average volume for the month of November.
By region, the core central region (CCR) and rest of central region (RCR) saw a 1 per cent drop in November, while the outside of central region (OCR) was up 0.8 per cent.
Year on year, the CCR prices rose 1.1 per cent, OCR prices increased 2.9 per cent, while RCR prices dropped 0.6 per cent.
The highest transacted price for a resale unit for November was Hilltops, which went for S$25.08 million.
In the RCR, the highest transacted price was for a unit at The Crest resold for S$3.7 million. In the OCR, the highest transacted price was for a unit at The Trilinq resold for S$4.98 million.
The overall transaction over X-value (TOX) worsened in November to negative S$2,000, representing a S$2,000 decrease from October, which had recovered from September to reach S$0.
The highest median TOX was recorded in District 2’s Chinatown and Tanjong Pagar at positive S$55,000, followed by District 13’s Macpherson and Potong Pasir at positive S$18,900.
The lowest median TOX was recorded at District 16’s Bedok or Upper East Coast at negative S$41,000, followed by District 8’s Farrer Park and Serangoon Road at negative S$40,000.
TOX measures how much a buyer is overpaying (positive value) or underpaying (negative value) for a property based on SRX's computer-generated market value. The data includes only districts with more than 10 resale transactions. A S$0 TOX means buyers are buying units at the estimated market value.