Private Resale Non-Landed Prices Decrease 0.7% in October; Volume Decreases 15.2%

 Non-landed Private Residential Resale prices decreased by 0.7% in October 2016 compared to September 2016. In individual sectors, CCR and OCR recorded a price decrease of 0.8% and 2.0% respectively. On the other hand, RCR recorded a price increase of 1.5%.





According to the SRX Non-Landed Private Residential Price Index:

∙         Year-on-year, prices in October 2016 decreased by 1.1% from October 2015. In individual sectors, RCR and OCR recorded a year-on-year price decrease of 2.0% and 3.3% respectively. On the other hand, CCR posted a year-on-year price increase of 4.9%.

∙         October 2016 prices were down by 8.5% from the recent peak in January 2014.


2. Resale volume decreases by 15.2%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 586 Non-landed Private Residential units were resold in October 2016. This is a 15.2% decrease compared to 691 units resold in September 2016.

∙         Year-on-year, resale volume in October 2016 was 15.4% higher compared to 508 units resold in October 2015;

∙         Resale volume was down by 71.4% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) remained at NEGATIVE 10,000. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

∙         The median T-O-X in October 2016 is NEGATIVE $10,000, same as September 2016.

4. District 16 posts highest median T-O-X. For districts with more than 10 resale transactions in August 2016, District 16 (Bedok, Upper East Coast, Siglap) posted the highest median T-O-X at POSITIVE $10,000.

This means that a majority of the buyers in this district purchased units above the computer-generated market value.