Resale Prices of Singapore Condo Fall 0.4% in July

Resale prices of Singapore non-landed residential homes dropped last July, after inching up in the past 4 months, according to the latest flash estimates data from SRX Property on Aug 10.

Residential homes prices slumped 0.4% in July compared to the month before, SRX noted. It also change down the monthly price growth in June to 0.4% from 0.5%.

The decline of price in June was across multiple locations, with city fringe, suburban and prime districts areas registering drops of 0.6%, 0.3% and 0.5%, respectively.

For yearly basis, resale prices last July slightly increase by 0.1 percent, from July 2015, The results  are still down by 6.6% from the last peak recorded in January 2014.

The data of SRX Property also indicate that 10% more resale units were sold last month compared to June. But overall, home sellers were more ready to go lower the property estimated market value in order to make a sale.

Year-on-year, the 770 resale units sold last July 2016 were 31.4% higher compared to July 2015 with 586 units resold. Resale volume last month was still lower by 62.4% compared to its peak in April 2010 with 2,050 units.

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