Condo resale prices up 1.9% in February to surpass last peak in prices four years ago: SRX Property

Resale 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.
Resale 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.PHOTO: ST FILE

SINGAPORE - Resale prices of condominiums and private apartments crossed an important mark last month by surpassing the last peak in prices seen in January 2014, according to flash estimates from SRX Property on Tuesday (March 13).

Resale 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 from 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.

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.

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.