Condo resale prices drop by 0.8% in August

An estimated 817 units were resold last month.

Condo resale prices in Singapore have slipped by 0.8% in August, with rest of central region and outside central region recording price decreasing of 1.5% and 0.7% respectively.

According to SRX Property, only the core central region recorded a price increase of 0.1%. Prices are now down by 7.8% from their January 2014 peak.

Meanwhile, resale volume increased by 5.3%, with an estimated 817 units resold in August, compared to just 776 units resold the preceding month.

“Year-on-year, resale volume in August 2016 was 59.3% higher compared to 513 units resold in August 2015. Resale volume was down by 60.1% compared to its peak of 2,050 units resold in April 2010,” SRX Property noted.