Prices of resale condos dipped 0.4% in April

But transaction volume still remained low.

According to SRX, prices of resale, non-landed private residential units showed a drop of 0.4% in April 2013. This is based on a weighted average of the PSF in the 3 sub-regions of Core Central (CCR), Rest of Central (RCR) and Outside Central (OCR).

Both CCR and RCR saw equivalent price drops of 1.9% over the previous month, to reach an average PSF of $1,722 and $1,267 respectively. It is the fourth consecutive monthly price drop for CCR since its price peak in December 2012. (Decrease of 8.2% over this four month period.) In contrast, resale prices in the OCR saw a 1.0% increase in average PSF, to end at $1,022 in April.

Resale transaction volume remained relatively low. Flash figures showed 572 non-landed units transacted in April 2013. This is comparable to the 614 units sold in March. Comparing year-on-year, the 572 units transacted in April represents more than 50% drop from the same period last year. (There were 1,240 non-landed resale cases in April 2012.)