Updated on December 17, 2023 by admin

SINGAPORE: October saw a little recovery in the resale-condo market, like Dunman Grand volume, and prices rose moderately for three months in a row.

According to flash statistics issued on November 28th by real estate websites 99.co and SRX, prices increased by 0.4% from September to October, which is lower than the 0.8% increase in September and the 0.9% increase in August.

The volume of resale condos increased by 14.7% from September to October and demand of Grand Dunman Virtual Tour.

According to the data provided by the real estate websites Grand Dunman Showflat, prices in the core central region (CCR) decreased by 1.5%, while in the outer central region (OCR), they increased by 2.5%. In the remainder of the central region (RCR), prices climbed by 1.9%.

When compared to October 2022, overall prices increased by 7.5%.

The persistently significant increase in the OCR and RCR sectors, according to 99.co chief data and analytics officer Luqman Hakim, suggests that resale condominiums in these locations are in great demand, even though the market is generally negative and prices are high.

As supply in the market rises and vacancy rates hit their highest levels in five years, he anticipates that prices will soon hit a limit.

According to the recent news, The CCR market was probably still feeling the pinch from the increase in extra buyer’s stamp duty (ABSD) among investors and international purchasers.

Buyers of resale condominiums are fighting increasing prices and changing their budgets while mortgage interest rates remain high. There has been a 6.3% rise in resale condo prices so far this year.

The average unit price of resale condo purchases grew across all areas in October, according to recent news, which used the Urban Redevelopment Authority’s Realis database on caveat data.

The average price of a unit in the RCR increased 4.7% from September to October, reaching S$1,788/sq ft.

Resale condo prices in the CCR increased 1.8% to $2,068/sq ft, while in the OCR they increased 2.3% to S$1,418/sq ft, she added.

According to recent report, the percentage of CCR resale condominiums sold for less than S$5 million increased from 90.4% in September to 95.5% in October.

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