Private non-landed resale prices at 17-month low
RESALE transactions involving non-landed private homes fell 7.5 per cent month-on-month last month, while resale prices continued to inch down by 0.3 per cent to stay at a 17-month low.
On a year-on-year basis, resale volume, which is at an estimated 421, fell 42.6 per cent, from 734 units resold in May last year, flash figures released by the Singapore Real Estate Exchange (SRX) yesterday showed.
Prices in the Core Central Region led the fall with a 2.9 per cent decline, followed by a 0.3 per cent drop in the city fringes, while prices in suburban areas inched up by 0.6 per cent
The median Transaction Over X value (TOX) stayed negative at minus $10,000 for the non-landed private resale market last month, meaning that most buyers bought their units at prices below what other buyers before them paid for similar units.
Sixteen out of 25 districts saw negative TOX last month. The two districts of Orchard, Cairnhill and River Valley as well as Geylang and Eunos saw the lowest TOX at minus $80,000 and negative $24,000 respectively.
SRX took into consideration only districts with more than 10 resale transactions last month.
THE BUSINESS TIMES