Singapore: Condo resale prices, volumes rise at a slower pace in May: SRX,

CONDOMINIUM rental prices and volumes continued to rise in May, albeit at a slower pace, indicated on flash estimates from SRX and released on Tuesday (Jun 27).

Overall resale prices rose 0.9 per cent from April and were up 9.2 per cent year on year.

However, not all regions registered price increases. The Core Central Region (CCR) and Outside Central Region (OCR) rose 1.7 per cent and 1.6 per cent, respectively, while prices in the Rest of Central Region (RCR) slid 0.3 per cent.

Year on year, resale prices for all regions rose. The OCR experienced the largest gain at 9.9 per cent, followed by the RCR at 9.6 per cent and the CCR at 7.1 per cent.

In terms of resale volumes, around 946 units changed hands in May, up 8.9 per cent from the 869 units resold in April. Volumes, however, were 18.8 per cent lower year on year and 4.2 per cent lower than the five-year average volumes for the month of May.

By region, around half or 50.7 per cent of resale transactions took place in the OCR, followed by 31.8 per cent in the RCR and 17.5 per cent in the CCR.

The most expensive condo unit resold in May was S$14.1 million for a unit at Yong An Park. The highest transacted price in the RCR was S$13.2 million for a unit at Aalto and S$3.7 million for an Ocean Park unit in the OCR.

The overall median capital gain for resale condos was S$308,000 in May, a S$2,000 decrease from the previous month.

District 9 (Orchard, River Valley) posted the highest median capital gain at S$697,000, while District 1 (Boat Quay, Raffles Place) registered a median capital loss of S$72,000.

The overall median unlevered return for resale condos stood at 27.7 per cent, with District 16 (Bedok, Upper East Coast) posting the highest median unlevered return at 41.7 per cent, and District 1 posted a median unlevered loss of 2.8 per cent.

SRX and calculate the capital gains and returns of a condo resale unit by comparing the current and previous transacted prices of the same unit. Districts with fewer than 10 matching transactions are omitted from rankings.