Chart of the Day: Condo sales hit a four-year high in 2017

Sales volume rose 67.8% YoY to 11,988 units.

This chart from Edmund Tie & Company (ET&Co) shows condo sales in the secondary market rose by 67.8% to 11,998 units in 2017. This is the highest increase in four years.

ET&Co noted that like the landed residential market, more buyers were willing to pay a higher quantum for properties that offer value. In 2017, there was a 140% increase of non-landed homes that transacted in the $4m-$5m bracket, from 89 units in 2016 to 214 units in 2017.

The number of non-landed homes transacted in the “above $5.0m” bracket nearly doubled from 226 units in 2016 to 441 units in 2017.

Bulk of the transactions were in the $1m-$1.5m quantum like in the previous years.