More Snapping Up Condos

SINGAPORE: Prices of condominiums on the resale market slid by 0.8 per cent in December, despite an increase in the number of transactions, according to a local property index. Upcoming executive condo include The Visionaire EC , Wandervale EC and Parc Life EC while existing ones include The Terrace EC, Waterwoods EC, Signature at Yishun and Brownstone EC.

The resale volume of non-landed private residential units rose 10 per cent from the previous month, with an estimated 519 units resold in December, SRX Property said. On a year-on-year basis, resale volume was up 44.2 per cent.

However, resale prices fell 0.8 per cent from the previous month, with prices in the Core Central Region, Rest of Central Region and Outside Central Region down 0.5 per cent, 1.2 per cent and 0.7 per cent, respectively.

Overall, prices were down 2.1 per cent compared with a year ago.

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 December to -S$5,000.

For districts with more than 10 resale transactions, District 27 (Yishun, Sembawang) posted the highest median TOX of S$17,000. The lowest median TOX was in District 12 (Balestier, Toa Payoh, Serangoon), with -S$32,000.

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