Private condo resale prices down 0.8% in December

Transaction volume jumped 10%.

Resale prices of non-landed private residential homes declined 0.8% month-on-month in December, according to data released today by SRX Property.

Resale values of city fringe homes booked the biggest drop, with Rest of Central Region (RCR) prices dropping 1.2% last month. Core Central Region (CCR) resale prices declined 0.5%, while Outside Central Region (OCR) resale prices dropped 0.7%.

Prices dropped 2.1% on a year-on-year basis. December 2015 prices were down by 7.8% from the recent peak in January 2014.

Some 519 condominium units were resold in December, marking a 10% increase compared to 472 units in November. This also marks a 44.2% volume surge compared to December 2014.