Condo resale volume skyrockets by 35.7% in May: SRX

On back of the OUE deferred payment scheme.

Resale volume for non-landed private residential units jumped to an estimated 840 units last month, a 35.7% increase compared to 619 units resold last April.

According to SRX Property, year-on-year, resale volume was also 35.3% higher compared to 621 units resold last May 2015.

“A significant contributor to the increase in volume is the greater number of resales in OUE Twin Peaks under the ‘deferred payment’ scheme. Resale volume was still down by 59.0% compared to its peak of 2,050 units resold in April 2010,” SRX Property said.

Meanwhile, condo prices increased by 0.4% in May compared to the preceding month, while CCR, RCR and OCR recorded price increases of 0.4%, 0.3% and 0.5%, respectively.

“Year-on-year, prices in May 2016 increased by 0.2% from May 2015. In individual sectors, CCR and RCR posted a year-on-year price increase of 4.7% and 0.6%, respectively, while OCR recorded a year-on-year price decrease of 2.0%,” SRX Property said.