Condominium resale prices edge up

SINGAPORE: Prices of condominiums sold on the resale market edged up 0.3 per cent in March, while the number of units sold spiked 47.6 per cent, according to a local property index.

Non-landed private residential units in the Outside Central Region led the rise, with a 1.3 per cent in resale prices, SRX Property said. Resale prices of units in the Rest of Central Region edged up 0.1 per cent in resale prices, while those in the Core Central Region fell 1.7 per cent. Upcoming executive condo include Treasure CrestNorthwave EC, Wandervale EC and Parc Life EC  while existing ones include The Terrace EC, Brownstone EC, The Visionaire EC, Waterwoods EC, Signature at Yishun, Skypark Residences, The Vales EC, The Criterion EC, Bellewaters EC, Bellewoods EC.

Overall, prices were down 1.2 per cent from a year ago and down 7.3 per cent from the peak in January 2014.

An estimated 577 non-landed private residential units were resold last month, an increase of 47.6 per cent compared to the 391 units resold in February. On a year-on-year basis, resale volume was up 19 per cent.

MEDIAN TOX DOWN

The median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell in March to -S$10,000.

For districts with more than 10 resale transactions, District 9 (Orchard, Cairnhill, River Valley) posted the highest median TOX of S$20,000. The lowest median TOX was in District 14 (Geylang, Eunos), with -S$29,000.

waterwoods ec executive condo site photo 1