Singapore, 25 Apr 2023 RESALE prices and volumes of condominiums continued to rise in March, supported by healthy demand for units in the Outside of Central Region (OCR).
Overall resale prices were up 1.4 per cent month on month and rose 8.6 per cent from the previous year, based on flash estimates from SRX and 99.co released on Tuesday (Apr 25).
Christine Sun, OrangeTee & Tie’s senior vice-president of research and analytics, said that some buyers may have turned to the secondary market as the price gap between resale and new condos has widened further.
Citing the Urban Redevelopment Authority Realis data, Sun noted that median prices of non-landed new sales (excluding executive condos) were 67.1 per cent higher than their resale equivalents. This is higher than the 46 per cent difference measured in the year-ago period.