Private condo resale prices down 0.2% in August

Overall price index slipped for the first time since July 2017.

The resale prices of condominium units slipped 0.2% MoM in August, SRX Property revealed. Despite this, the prices saw an 11.2% YoY hike from August 2017’s rates.

According to the firm’s data, condo resale prices in the rest of the central region (RCR) fell 1.6% whilst resale rates in the core the central region (CCR) dipped 0.3%. Meanwhile, condo resale prices outside the central region (OCR) inched up 0.8%.

In terms of volumes, resold condo units decreased by 35.3% to 694 from the 1,072 units resold in July 2018. Resale volumes plummeted 48.2% YoY from 1,339 units.

SRX noted that monthly change in index value for July 2018 remained unchanged whilst the overall price index recorded a slip for the first time since July 2017.