Condo resale price climbs 0.3% MoM in May

Year-on-year, condo resale price was up by 8.4%.

The overall condo resale price slightly rose by 0.3% on a monthly basis in May 2022 compared to April 2022, property consultancy firms, 99.co and SRX, said.

This indicates condo resale prices increasing for the 22nd straight month. 

On a yearly basis, the overall prices went up by 8.4% in May 2022 whilst all regions also experienced price increases. Prices rose by 6.2% in Core Central Region (CCR), 5.4% in Rest of Central Region (RCR), and 10.7% in Outside of Central Region (OCR).

Over 1,572 units were resold last month, which is a 1.6% growth from 1,547 units resold in April 2022. 

Volumes are 11% lower than in May 2021, and 40.2% higher than the five-year average volumes for May 2022.

By region, in May 2022, 60.2% of volumes are from OCR, 24.7% from RCR, and 15.1% from CCR.