SINGAPORE resale condominium prices and volumes continued to rise in August despite it being the Hungry Ghost month, when sales typically slow down.
Flash figures from SRX Property on Tuesday noted a 0.5 per cent rise in overall resale prices month on month, and an increase of 7.9 per cent year on year.
By region, the suburban or outside of central region (OCR) saw the highest rise at 0.9 per cent. This was followed by the core central region (CCR), which increased 0.3 per cent and the rest of central region (RCR), which was up 0.2 per cent.
Year on year, the CCR, OCR and RCR climbed 8.2 per cent, 7.9 per cent and 7.6 per cent respectively.
Estimated resale volumes, meanwhile, stood at 1,860 resold units, 4.9 per cent higher than the 1,773 units resold in July 2021. Volumes were 40.5 per cent higher year on year and 79.5 per cent higher than the five-year average volumes for the month of August.
The bulk of transactions (60.4 per cent) came from the OCR, followed by 23 per cent in the RCR and 16.5 per cent in the CCR.
source: The Business Times
