Singapore, 10 May 2022 Condominium resale prices in Singapore increased for the 21st consecutive month in April, rising 0.7 percent over March.
According to a flash report issued on Tuesday by SRX Property and 99.co, condo resale prices grew 9% on a year-on-year basis with price rises in all areas (May 10). Following the immediate effects of property cooling measures implemented in December, property analysts believe the strong demand implies a comeback in the condo resale market.
Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said while April’s volume is down from March, it is still significantly more than the 1,137 units transacted in January and 979 units in February. “Moreover, demand can be considered firm given that prices have risen for 21 straight months,” Sun said.