SINGAPORE: The resale prices for non-landed private residential flats inched up in May, with resale volume also increasing, according to estimates released by SRX Property on Thursday.
On a month-on-month basis, resale prices were up 0.4 per cent last month. Compared to a year ago, prices increased by 0.2 per cent. Upcoming new launch condo include Forest Wood and Straits Mansions while existing ones include Sturdee Residences and Gem Residences.
In individual sectors, the Core Central Region and Rest of Central Region posted a year-on-year price increase of 4.7 per cent and 0.6 per cent respectively, while the Outside Central Region recorded a year-on-year price decrease of 2.0 per cent.
An estimated 840 non-landed private residential units were resold in May, which is an increase of 35.7 per cent compared to the 619 units resold last month.
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell to -S$8,000, compared to a S$1,000 increase in April.
For districts with more than 10 resale transactions in May 2016, District 11 (Watten Estate, Novena, Thomson) posted the highest median TOX at S$16,000. The lowest median TOX was at District 17 (Changi, Loyang), which posted a TOX of -S$36,000.