Private condo resale prices rose 6.2% in 2017

The resale volume also surged 79.7% to 895 units.

The resale price of private condominiums rose 6.2% YoY in December, the Singapore Real Exchange (SRX) revealed.

According to flash data, Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) recorded a YoY price increase of 6.2%, 8.9%, and 4.4% respectively.

December prices were down by 2.1% from the peak in January 2014.

Meanwhile, resale volume surged 79.7% from 498 units in 2016 to 895 units in 2017.

This is a 38.3% decrease compared to 1,450 units resold in November 2017.

Here's more from SRX:

The median Transaction Over X-Value (TOX) in December 2017 is POSITIVE $12,000. It is unchanged compared to the same POSITIVE $12,000 TOX in November 2017.

For districts with more than 10 resale transactions in December 2017, District 13 (Macpherson/Potong Pasir) posted the highest median TOX at POSITIVE $490,000.

This means that a majority of the buyers in those districts purchased units above the computer-generated market value.

District 17 (Changi Airport/Changi Village) posted a TOX of NEGATIVE $19,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

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