Condo resale prices up 0.5% in February from January: SRX Property

Singapore condominium prices in the secondary market increased in February 2019, an increase of half a percent from January. This is derived from the data provided by SRX Property.

This marks the greatest price rise since July 2018, with price increases of 0.2% in the core central region (CCR) and 0.8 % in the city fringes, or otherwise named as Rest of Core Region (RCR).

Ms Sun from OrangeTee & Tie said that as condos in the resale market are generally bigger in area compared to new condos, the quantum of resale homes may be above the budget of buyers when the units are priced near the prices of new homes on a $psf basis.

Hence, some buyers could have entered the primary market, where the condo units are smaller in area but would be more affordable in terms of overall price quantum.