CONDOMINIUM resale prices rose sharply by 1.5 per cent in April after trending sideways for the past six months. This came as volumes reached a 13-month high.
The number of condo units which changed hands stood at 1,122 units for the month, up from the 911 units resold in March. Volumes were up 25.8 per cent year on year, and 17.6 per cent higher than the five-year average volumes for the month of April.
Resale prices, meanwhile, were up 5.1 per cent on the year, with price increases in all regions.
The Outside Central Region (OCR) recorded the highest gain at 7.2 per cent, followed by the Rest of Central Region (RCR), which climbed 5.2 per cent, and the Core Central Region (CCR), which inched up 0.2 per cent.
The OCR also led in terms of resale volumes, accounting for 45.4 per cent of total transactions in April. This was followed by the RCR, which was responsible for 31.8 per cent of volumes and the CCR, which made up 22.8 per cent of total resale volumes.
Sub-sale transactions accounted for 9.2 per cent of all secondary sales, up 0.1 percentage point from March.
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Sub-sale deals refer to secondary sales made before a project’s completion, while secondary-sale transactions comprise both resale and sub-sale transactions.
The most expensive condo resold in April was S$13 million for a unit at The Marq On Paterson Hill. In the RCR, the highest transacted price was S$8.3 million for a unit at The Peak, and S$5.36 million for a Windy Heights unit in the OCR.
The overall median capital gain for resale condos stood at S$337,000, down S$40,000 from the month before.
District 10 (Tanglin, Holland) posted the highest median capital gain at S$763,000, while District 1 (Boat Quay, Raffles Place, Marina) recorded the lowest median capital gain at S$2,000.
District 15 (East Coast, Marine Parade) posted the highest median unlevered return at 40.7 per cent, while District 1 recorded a negative median unlevered return of 1.8 per cent.
Capital gains and returns on a condo resale unit are calculated by comparing the current transacted price with the previous transacted price of the same unit. Districts with fewer than 10 matching transactions are excluded from the ranking.
