After two consecutive months of reduction, the resale prices of condominiums in Singapore increased by 0.5% in February from January. This was according to monthly figures from real estate portal, SRX Property. It is the largest price increase since July 2018 with year-on-year prices up by 4.6% compared to February 2018.
Month-on-month, prices in the Core Central Region (CCR) were up 0.2% and 0.8% for the Rest of Central Region (RCR). As for the Outside Central Region (OCR), prices rose by 0.5%.
In February, there were an estimated 523 units that were resold. This marked an 8.7% decrease from the 573 units that were resold in January 2019. Compared to a year ago, this figure represents a 56.7% decrease from the 1,207 units resold in February 2018.
Analysts say that some potential buyers may have purchased their units from the primary market, where smaller, and more affordable, options are available.