by OrangeTee & Tie Pte Ltd.

Condo resale prices rise for 5th straight month in December: SRX

SRX HDB Resale Data

SRX HDB Resale Data

SG, 12 Jan 2021

The private property resale market continues to pick up not just from the Covid-19 fallout but also from the cooling measures implemented in 2018, with prices climbing for the fifth straight month in December. For the whole of 2020, prices of resale condominiums rose 1.4 per cent, just slightly lower than the 1.8 per cent increase in 2019, according to flash figures from real estate portal SRX Property on Tuesday (Jan 12). In December, overall resale prices of non-landed properties increased by 0.3 per cent from the previous month. Meanwhile, resale volume decreased by 5.1 per cent to an estimated 1,236 units in December from 1,302 units resold in November. Still, it marks the sixth consecutive month where resale volume crossed the 1,000-unit level.

OrangeTee & Tie director and senior vice-president of research and analytics Christine Sun said she expects the private resale market to continue to improve this year, thanks to "low mortgage rates, a tight supply of new homes entering the market and a possible economic recovery".

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