Increase in Resale Prices of Condominiums, With More Units Sold in August

According to flash estimates released by SRX Property on Tuesday (12 Sept), the number of resale non-landed private homes sold in August increased by 19.2% coming in from July. There were 1,273 units sold in August compared to 1,068 units shifted in July.

Statistics also revealed that the resale prices of condominiums saw a slight increase of 0.7% month-to-month and was 3.2% more in August 2017 than in August of last year. The average prices of resale non-landed homes in August are just 4.3% lower than when it was at its peak in January 2014.

Resale prices of condominiums in the Outside Central Region (OCR) led the pack with a 1.6% increase while those in the Core Central Region (CCR) went up slightly by 0.2%. Prices of homes in the Rest of Central Region remained unchanged.

A sure sign that the housing market recovery is fast gaining momentum is the significant 50.8% surge in the total number of homes sold in August of this year as compared to the same period in 2016.