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Singapore condo resale prices up 1.9% in February, units sold jump 11.3%: SRX Property

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Resale volumes were up by 11.3 per cent as an estimated 1,212 non-landed private residential units were resold in February, said real estate portal SRX.

RESALE prices of condominiums and private apartments in Singapore continued to accelerate last month surpassing the last peak in prices seen in January 2014, according to flash estimates from SRX Property on Tuesday.

Prices in February climbed 1.9 per cent from the previous month - higher than the 1.3 per cent month-on-month price rise seen in January, which was revised up from an earlier estimate of a 1 per cent increase.

February's resale prices were one per cent higher than the peak in January 2014 and 7.6 per cent higher than a year ago, said real estate portal SRX.

The price appreciation was seen across all locations. The core central region (CCR), rest of the central region (RCR), and outside central region (OCR) recorded month-on-month price increases of 1.5 per cent, 1.7 per cent, and 2.2 per cent respectively.

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Compared to a year ago, CCR, RCR, and OCR recorded price increases of 6.2 per cent, 11 per cent, and 6.2 per cent respectively.

SRX

In another sign of a strengthening market, the number of resale non-landed private homes sold last month jumped 11.3 per cent from January, said SRX.

Year-on-year, resale volume in February was 68.6 per cent higher compared to 719 units resold in the corresponding month a year ago, but nearly 41 per cent lower than the April 2010 peak.