Condo resale prices increase for 14 straight months

PHOTO: The Straits Times

Condo resale prices have risen for the fourteenth consecutive month, increasing by 1.0 per cent in September 2021.

According to our flash report on the condo resale market in September 2021, prices have increased by 1.1 per cent for units in the CCR, 1.7 per cent in the RCR and 0.6 per cent in the OCR.

Year-on-year, prices have increased by 8.9 per cent, with a rise of 9.1 per cent in the CCR, 8.6 per cent in the RCR and 9.0 per cent in the OCR.

On the other hand, there’s a 3.8 per cent dip in resale volume. Approximately 1,736 units were resold in September, lower than the 1,805 units resold in the previous month.

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The highest condo resale transaction in the month was for a unit in Le Nouvel Ardmore for $26.3 million. According to our data on Researcher, the unit spans 5,361 sq ft, translating to $4,905.8 psf.

In general, the overall median capital gain for the month was $233,500, which was an increase of $40,500 as compared to August.

Districts with the highest median capital gain were District 10, District 11 and District 9. Districts with the lowest median capital gain were District 4, District 17 and District 13.

This article was first published in 99.co.