Prices of resale condominiums hit a 3-year high

Resale Condominiums Prices Highest in 3 Years

June was a good month for resale condominiums as prices hit a 3-year high, according to flash estimates released by SRX Property on Tuesday (11 July).

There was an increase of 0.9% in condominium resale prices in June coming in from May and this was an upsurge of 2.2% from June of last year. Resale prices of developments in the Core Central Region saw a growth of 1.3% while those in the Rest of Central Region increased by 1.1%. There was no change in resale prices of condominiums in the city fringe areas.

The number of resale condominium transactions dropped, however, and there were 12.5% less sales compared to the 1,217 units moved in May. There was an increase of 51.1% of units that changed hands this June as compared to June 2016 when only 705 units were transacted.

 

Prices of resale condominiums increased in the month of May as well, read that article here: 0.4% Increase in Resale Condo Prices in May