Condo resale prices up 0.9% in February

It marked the fourth consecutive monthly increase.

Condo resale prices saw their fourth month of growth in February, up 0.9% compared to the previous month.

According to the data released by SRX Property, all individual sectors recorded a price increase: CCR with 1%; RCR with 0.8%; and OCR with 0.9%. On a yearly basis, February 2017 prices increased 1.8%, with CCR recording a 4.8% increase and both RCR and OCR seeing a 0.7% uptick. However, prices for the said month were down 6% from the recent peak recorded in January 2014.

Meanwhile, resale volume increased in the past month by 31.2%. An estimated 694 condos were resold in February compared to 529 units resold in the previous month.

Resold units in the said month were 77.9% higher compared to 390 units resold in February 2016.