journo
14-09-22, 17:33
As a result of increased loan rates, there were fewer condo sales in the month of August. SRX and 99.co
Sep 13, 2022
According to flash numbers from SRX and 99.co that were published on Tuesday, the number of condominiums that changed hands in the resale market continued to tumble for the fourth consecutive month, with a total of 1,135 units resold in the month of August (Sep 13).
This happens as a result of rising loan rates and demand for the introduction of new condos, both of which have a negative impact on resale sales. Property analysts have observed that around this time of the year, sales tend to slow down due to the fact that many prospective buyers refrain from making costly purchases during the month of the Hungry Ghost.
The number of units that were resold in August 2022 was 38.6 percent lower than the same time last year, which was 14.5 percent lower than the 1,327 units that were resold in July 2022, and 8.2 percent lower than the 5-year average volumes for the month of August.
The cost of goods and services, on the other hand, have been steadily climbing for the past 25 months in a row, with month-over-month increases of 1.2% and annual increases of 10.5%.
According to Nicholas Mak, head of research and consultation for ERA Realty, the rapidly increasing costs of private residences may be driving some interest toward the HDB resale market. Buyers who are waiting for the launch of their desired condo, waiting for prices or mortgage rates to fall, or waiting for any combination of these factors may be postponing the purchase of a property.
Wong Siew Ying, the head of research and content for PropNex Realty, stated that house leasing and rental markets are "still running strong," which may encourage condo owners to keep their homes for the purpose of earning revenue from rentals.
According to SRX and 99.co, prices went up across the board, with the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) each seeing price hikes of 1%, 0.8%, and 1.5% correspondingly. Prices of previously owned properties in the CCR climbed by 7.6% on an annual basis, while those in the RCR jumped by 10%, and those in the OCR rose by 11.5%.
According to the chief executive officer of Huttons Asia, Mark Yip, "Resale condo sellers are anticipating higher prices for new condo launches in the months ahead and are pricing them in" when setting their prices for the condos they are selling
The OCR was the location of the majority of resale transactions in August, accounting for 61.7% of all transactions, followed by the RCR (21.4%) and the CCR (6%). (16.9 per cent).
In the month of August, a condo resale unit at Sage, a condo building located on Nassim Road, sold for S$15.2 million, making it the condo with the highest transaction price.
The most expensive condo that was ever resold was a unit at Reflections at Keppel Bay, which went for S$7.7 million in the RCR, whereas the most expensive condo that was ever resold in the OCR was a unit at Fernwood Towers, which went for S$3.8 million.
Since July, the aggregate median capital gain for resale condominiums has decreased by S$8,943 and now stands at S$282,201. In District 10, which includes Tanglin and Holland, the median capital gain was reported to be the largest at S$619,400. In District 4, which includes Harbourfront and Telok Blangah, the median capital gain was reported to be the lowest at S$116,760.
The median amount of money lost in District 1 (which includes Boat Quay and Raffles Place) was S$92,520.
Both SRX and 99.co arrive at the amount of the capital gain associated with the sales of a condo unit by contrasting the most recent transaction price with the most recent transaction price of the exact same unit. The ranking does not take into account jurisdictions that have fewer than ten transactions that match.
Sep 13, 2022
According to flash numbers from SRX and 99.co that were published on Tuesday, the number of condominiums that changed hands in the resale market continued to tumble for the fourth consecutive month, with a total of 1,135 units resold in the month of August (Sep 13).
This happens as a result of rising loan rates and demand for the introduction of new condos, both of which have a negative impact on resale sales. Property analysts have observed that around this time of the year, sales tend to slow down due to the fact that many prospective buyers refrain from making costly purchases during the month of the Hungry Ghost.
The number of units that were resold in August 2022 was 38.6 percent lower than the same time last year, which was 14.5 percent lower than the 1,327 units that were resold in July 2022, and 8.2 percent lower than the 5-year average volumes for the month of August.
The cost of goods and services, on the other hand, have been steadily climbing for the past 25 months in a row, with month-over-month increases of 1.2% and annual increases of 10.5%.
According to Nicholas Mak, head of research and consultation for ERA Realty, the rapidly increasing costs of private residences may be driving some interest toward the HDB resale market. Buyers who are waiting for the launch of their desired condo, waiting for prices or mortgage rates to fall, or waiting for any combination of these factors may be postponing the purchase of a property.
Wong Siew Ying, the head of research and content for PropNex Realty, stated that house leasing and rental markets are "still running strong," which may encourage condo owners to keep their homes for the purpose of earning revenue from rentals.
According to SRX and 99.co, prices went up across the board, with the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) each seeing price hikes of 1%, 0.8%, and 1.5% correspondingly. Prices of previously owned properties in the CCR climbed by 7.6% on an annual basis, while those in the RCR jumped by 10%, and those in the OCR rose by 11.5%.
According to the chief executive officer of Huttons Asia, Mark Yip, "Resale condo sellers are anticipating higher prices for new condo launches in the months ahead and are pricing them in" when setting their prices for the condos they are selling
The OCR was the location of the majority of resale transactions in August, accounting for 61.7% of all transactions, followed by the RCR (21.4%) and the CCR (6%). (16.9 per cent).
In the month of August, a condo resale unit at Sage, a condo building located on Nassim Road, sold for S$15.2 million, making it the condo with the highest transaction price.
The most expensive condo that was ever resold was a unit at Reflections at Keppel Bay, which went for S$7.7 million in the RCR, whereas the most expensive condo that was ever resold in the OCR was a unit at Fernwood Towers, which went for S$3.8 million.
Since July, the aggregate median capital gain for resale condominiums has decreased by S$8,943 and now stands at S$282,201. In District 10, which includes Tanglin and Holland, the median capital gain was reported to be the largest at S$619,400. In District 4, which includes Harbourfront and Telok Blangah, the median capital gain was reported to be the lowest at S$116,760.
The median amount of money lost in District 1 (which includes Boat Quay and Raffles Place) was S$92,520.
Both SRX and 99.co arrive at the amount of the capital gain associated with the sales of a condo unit by contrasting the most recent transaction price with the most recent transaction price of the exact same unit. The ranking does not take into account jurisdictions that have fewer than ten transactions that match.