Resale prices inched up 1%.
The Singapore Real Estate Exchange (SRX) reported that resale volume of non-landed private residential properties increased by 15.1% MoM, with an estimated 1,097 units resold in January compared to 953 units in December.
Meanwhile, resale prices inched up by 1% MoM, with a YoY price increase of 6.3%.
On a yearly basis, non-landed private residential units in CCR, RCR, and OCR saw price increases of 5.6%, 9.7%, and 4.4%, respectively.
Further, SRX’s median TOX, which measures whether people are overpaying or underpaying the SRX X-Value estimated market value, increased to +$16,500, compared to +$12,000 TOX in December. This means that majority of the buyers purchased units above SRX’s computer-generated market value.
District 9 posted the highest median TOX with a +$77,000, whilst district 27 posted the most negative with a -$9,000 value amongst districts with more than 10 resale transactions.
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