Private condo resale prices slipped 4.5% in October

Resale volume slipped 4.7%.

Non-landed private residential resale prices slopped 4.5% year-on-year in October. According to date released today by SRX, prices hovered around 168.8 and 169.8 in the last 4 months since July and prices have declined 5.2% since the recent peak in Jan 2014.

On a month-on-month basis, private condo resale prices inched up 0.4%. Prices in RCR and OCR drove the overall index up with both increasing by 0.6% while prices in CCR dropped by 0.3%. 

The resale market remained tepid with resale volume slipping 4.7% year-on-year. An estimated 451 Non-landed Private Residential units were resold in October, a 2.2% decrease from 461 transacted units in September.

Resale volume is down 78% compared to its peak of 2,050 units resold in April 2010.