Singapore condo resale prices see uptick of 0.4% gain in Oct: SRX Property

Condominiums at Pasir Ris Drive 1. -- ST PHOTO: DESMOND WEE
Condominiums at Pasir Ris Drive 1. -- ST PHOTO: DESMOND WEE

SINGAPORE - Prices of non-landed private resale homes inched up 0.4 per cent in October compared with September, SRX Property said on Tuesday. However this rise took place amid a backdrop of low volumes. There were only 451 private condo resale transactions in October, compared with 461 in September.

Prices in the prime districts continued to fall with the index declining 0.3 per cent. Prices in the Rest of Central Region and the suburbs both increased by 0.6 per cent.

SRX calculates that prices have edged down 5.2 per cent since the recent peak in January this year.

The median T-O-X - an indicator of how much buyers pay over past transacted prices of comparable units - was a negative $4,000 in October.

Among the districts which saw more resale activity, District 14 which includes Geylang and Paya Lebar experienced the most pressure on prices in October. It posted the highest negative median T-O-X of $41,000, followed by District 12 which includes Balestier and District 11 which covers the Newton area.