Private condo resale prices slide to 21-month low in July

Core Central Region prices dropped most.

Resale prices for private condominiums fell to another record low in July, as the Singapore Real Estate Exchange Residential Property Price Flash Report showed that July’s resale prices were off 1.3% from the previous month, hitting a 21-month low since October 2012.

The report also showed that condos in the Core Central Region (CCR) led the decline with a 4.0% decrease. Prices in Rest of Central Region (RCR) and Outside Central Region (OCR) dropped 1.1% and 0.6%, respectively.

Meanwhile, resale volume remained flat, posting an estimated 431 transactions compared with 427 in June.
Sales are down 46.6% year-to-date, while sales are off 79% from the peak of 2,050 units in April 2010.