Singapore condo resale volume surges 19.2%

SRX Property said condo resale figures in Singapore have improved in the month of August, with prices up 0.7% and volume up 19.2%.

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There was an attractive increase in the resale volume of non-landed private residential units in Singapore in August, latest figures from the SRX Property revealed.

According to the released data, an estimated 1,273 condominium units were resold in the said month, reflecting a 19.2 percent increase compared to the 1,068 resold units in the month of July.

Compared to last year, the resale volume reflects a higher difference. The past month's resold units were 50.8 percent more than last year's 844 resold units.

However, the latest volume data was down by 37.9 percent if compared to the peak of 2,050 resold units which were recorded in April 2010.

Meanwhile, resale prices saw an uptick of around 0.7 percent in the said month. Amongst the sectors, condominium units in the outside central region registered the highest resale price increase of 1.6 percent, followed by those units in core central region with 0.2 percent.

On the other hand, the resale prices of units in the rest of central region remain unchanged.

Considering last year's data, resale prices the past month was 3.2 percent higher, with rest of central region registering the highest resale price growth at 5%, core central region at 4.9%, and outside central region at 1.1%.