Private condo resale prices dipped 0.4% in October

Resale volume rose 3.7% to 703 units resold.

Private condo resale prices recorded a price slip of 0.4% MoM in October, SRX Property revealed. The core central region (CCR) saw the highest price decrease of 1.7%.

Outside the central region (OCR), condo resale prices inched down 0.7% whilst those located in the rest of the central region (RCR) recorded a price increase of 0.9%.

Meanwhile, private condo resale volume grew 3.7% MoM to 703 units resold from 678 units in September. However, the October volume crashed 53% YoY compared to 1,497 units resold in October 2017.

According to SRX Property, private condo resale prices jumped 8.7% YoY in October, but was down 1% from its peak in July 2018. On a YoY basis, resale prices of units in the CCR, RCR, and OCR rose 8.1%, 9.4%, and 8.6%, respectively.