Condo resale prices drop by 1.2% in September

446 units were resold this month.

Non-landed private residential resale prices continued their 6-month struggle with flat trends this month, as it inched down 0.1% compared to last month’s numbers.

According to a report by SRX Property, condo resale prices are now down 6.7% from its recent peak in January 2014.

“In individual sectors, CCR post a price increase of 2.8% whereas prices in RCR and OCR post decreases of 1.4% and 0.9% respectively,” the report said.

Meanwhile, condo resale volume sinked by 10.6%, compared to 499 units sold last month.

Resale volume is also now down a whopping 78.2% compared to its last peak in April 2010, when 2,050 units were resold.

“Year-on-year, resale volume in September 2015 is down 4.7% compared to 468 units resold in September 2014,” the report said.