October was the fifth consecutive month when sales volume stayed above 2,400 units, after rebounding from weak sales during the circuit breaker period

HDB resale prices rise for 4th month in October

The resale condo market got to a two-year high in October with 1,509 units changing hands the same month, according to blink numbers from realty site SRX Residential property on Tuesday (Nov 10).

It surpassed the 1,311 transactions recorded in August, which was the greatest regular monthly resale volume since Might 2018.

October’s sales number stood for a 21.6 percent jump from the 1,241 non-landed private devices re-selled in September.

The quantity of re-selled units transacted last month was likewise 72.9 percent more than in October in 2015.

According to SRX data, total rates of a resale condominium climbed by 0.8 per cent from September to October, with month-on-month cost development across all three regions.

The core main area (CCR) climbed by 0.5 percent, the remainder of the central area (RCR) by 1 per cent, and outside central area (OCR) by 0.8 per cent.

Ms Wong Siew Ying, PropNex head of research study and also material, said that transactions of resale devices last month were driven mostly by sales of mass-market houses, which represented 58 per cent of the complete volume.

Quick sales in the personal condo resale market seem to be generally according to the exclusive new house sales market as well as the Real estate Board resale segment, reflecting a “healthy and balanced underlying demand for residences”, she kept in mind.

“Sales have been fairly vigorous in recent months as purchasers get in the market, sensing that the worst might be over as well as taking self-confidence from the progressively recuperating economic situation.

“Deal seekers would likewise get on the prowl, searching the resale market completely worth acquires amidst the financial decline,” she included.

The greatest negotiated price in October was for a resale device at Wallich House in Tanjong Pagar and Fourth Avenue Residences, which was cost $62 million.

The greatest negotiated rate in the RCR was $9.1 million for a unit in Representations at Keppel Bay in Harbourfront while a device in Costa Del Sol, off Upper East Coastline Roadway, re-selled for $2.9 million, the greatest rate in Optical Character Recognition.

Looking ahead, PERIOD Realty study and consultancy head Nicholas Mak said the healing seen in the resale apartment market in the past three months is “just the beginning”.

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