Condo resale prices up 1% in September 2021

An estimated 1,736 units were resold in September.

According to a report released by 99.co and SRX, condo resale prices increased by 1% m-o-m  in September 2021. 

When compared on a y-o-y basis, overall prices saw an increase by 8.9%. This sentiment  was also echoed throughout all the regions, as the Outside Central Region (OCR), Rest of Central Region (RCR) and Core Central Region (CCR) saw price increases at 9.1%, 8.6% and 9%, respectively.

An estimated 1,736 units were resold in September 2021, a 3.8% m-o-m decrease from the 1,805 units resold in August 2021. Around 60.3% of these were from OCR, whilst 23.5% were from RCR and 16.2% from CCR. This was 35.9% higher than in September 2020, and 84.1% higher than the 5-year average volumes for the month of September. 

The highest transacted price for a resale unit was set at $26.3m in Le Nouvel Ardmore.

Meanwhile, overall median capital gain was $233,500 in September 2021, an increase of $40,500 from the previous month. District 10, which includes Tanglin, Holland and Bukit Timah, posted the highest median capital gain at $40,500, while District 4, Sentosa and Harbourfront, posted the lowest at $30,000.

Christine Sun, Senior VP of Research & Analytics, saw this performance as a reaction to the lowering condo supply. 

“Prices have been increasing islandwide and are hovering about 9 per cent for all three segments from September 2020 to September 2021- i.e. CCR (9.1 per cent), RCR (8.6 per cent), OCR (8.9 per cent). The price increase is quite consistent islandwide and the broad-based price increase indicates that buyers were generally willing to pay more for resale condos this year in view of the growing housing demand and declining condo supply,” she said.
 

 

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!