Approximately 1,075 units were resold in July
The condo resale market experienced a notable uptick in July, with a significant increase in transaction volumes. According to flash estimates from SRX and 99.co released on Aug 26, approximately 1,075 units were resold in July.
The distribution of transactions varied by region. The outside central region accounted for the largest share, with over 51.9 per cent of the total transactions. Prices for resale condos increased by 0.8 per cent from June and 5.5 per cent from July 2023. Notably, prices in the CCR rose by 2.8 per cent month-on-month , marking the first increase in four months.
The percentage of sub-sale transactions, which are secondary sales occurring before a project’s completion, fell to 7.1 per cent in July, marking a 5 per cent decrease from June.Luqman Hakim, chief data and analytics officer at 99.co, attributed this decline to the competition from new launches such as Kassia in Changi and Sora in Jurong.
The overall median unleveraged return for resale condos in July was 31.4 per cent. District 21 saw the highest median return at 49.7 per cent, whereas District 1 recorded the lowest at a negative 4.8 per cent.Analysts predict that the upward trend in the condo resale market will likely persist. Ms Sun pointed out that strong demand and a decrease in the supply of newly completed homes might help sustain resale condo prices.
Singapore Latest News, Singapore Headlines
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