by OrangeTee & Tie Pte Ltd.

Condo resale prices rise for 24th straight month in July, volume falls 30.7% year on year

SRX Private Residential Data

Singapore, 10 Aug 2022

Prices of resale condominium units edged up for the 24th straight month in July, while transactions dipped amid rising interest rates.

Condo resale prices rose at a quicker pace of 1.2 per cent last month compared with June's 0.8 per cent, according to flash figures from real estate portals 99.co and SRX released on Wednesday (Aug 10).

Some buyers may not be willing to match some sellers’ asking prices, given the uncertainties surrounding global economics, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun.

“On the other hand, sellers have no pressure to cut prices. Some sellers still expect prices to rise further, given the robust housing demand from Housing Board upgraders and supply lag in the suburbs,” she added.

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