June 2020

May 2020 Condo Resale Prices Holding Up Despite Volumes Plummeting Further in the Second Month of the Circuit Breaker

- 09 Jun 2020

1. RCR prices increase by 1.7%, while CCR and OCR prices decrease by 0.2% and 0.5% in May 2020. According to the SRX Price Index for Non-Landed Private Residential Resale:

 

non landed private resale price index 2020 may
non landed private resale price index by region 2020 may
  • Month-on-month, overall prices increase by 0.1% over April 2020.
  • Year-on-year, overall prices decrease by 0.6% over May 2019.
  • In terms of regions, year-on-year, OCR prices decrease by 2.4% and, while CCR and RCR prices increase by 0.9% and 1.0%, respectively.

2. An estimated 171 units were resold in May 2020, similar to the levels seen in Financial Crisis of 2009. May’s resale volume is a 43.0% decrease from the 300 units resold in April 2020.

non landed private resale volume 2020 may
  • Volumes are 80.0% lower than in May 2019, and 83.1% lower than the 5-year average volumes for the month of May.
  • Breaking down by regions, in May 2020, 47.6% of the volumes are from OCR, 26.5% from RCR and 25.9% from OCR.

3. The highest transacted price for a resale unit in the month is achieved at $10.6 million at Nassim Park Residences.

  • In RCR, the highest transacted price is a unit at The Seafront on Meyer resold for $2.95 million.
  • In OCR, the highest transacted price is a unit at Kovan Melody resold for $1.8 million.

4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $10,000 in May 2020.

 This represented a $1,000 increase as compared to April 2020. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

non landed private resale median transaction over xvalue 2020 may
non landed private resale tox by district 2020 may
  • District 1 (Boat Quay / Raffles Place / Marina) posted the highest median T-O-X at NEGATIVE $2,100, followed by District 14 (Eunos / Geylang / Paya Lebar) at NEGATIVE $12,600.
  • District 15 (East Coast / Marine Parade) posted the lowest median T-O-X at NEGATIVE $40,000, followed by District 18 (Pasir Ris / Tampines) at NEGATIVE $13,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.

HDB Resale Prices Stable, Volumes At Record Low in Second Month of Circuit Breaker

- 04 Jun 2020

1. HDB resale price index 0.1% higher in May 2020 over April 2020. 3 Room and 4 Room increase by 1.4% and 0.3% respectively, while 5 Room and Executive prices decline by 1.1% and 0.6% respectively. In terms of town maturity, Non-Mature Estates prices increase by 0.9% while Mature Estates prices decrease by 1.1%, as compared to April 2020.  

 

hdb resale price index 2020 may



 

hdb resale price index by property type 2020 may



 

hdb resale median price 2020 may



 

According to the SRX Property Price Index for HDB Resale:
 

  • Prices in May 2020 are 1.3% higher than the preceding year and 0.1% higher than April 2020.
  • May 2020 prices are 13.1% lower than the peak in April 2013.
  • Prices for most room types remain higher than a year ago: 4 Room by 1.5%, 5 Room by 1.1% and Executive by 0.2%. Prices for 3 Room flats, however, decrease by 0.3% year-on-year.
  • Year-on-year, Non-Mature Estates prices increase by 3.4% while Mature Estates prices decrease by 1.8%.
hdb mature and non mature estate price index 2020 may



 

hdb mature and non mature estate price index2 2020 may



2. 364 HDB resale transactions in May 2020, representing a 13.9% decrease from April 2020.

 

hdb resale volume 2020 may


 

  • Year-on-year, resale volume in May 2020 is 82.7% lower than the previous year.
  • Breaking down by room types, in May 2020, 35.7% of the volume comes from HDB 4 Room, 29.1% from 5 Room, 23.4% from 3 Room and 9.3% from Executive. The rest are from 1 Room and 2 Room.


3. The highest transacted price for a resale flat in the month is achieved at $1,140,000 by a 5 Room unit at Tiong Bahru View in Bukit Merah; In Non-Mature Estates, the highest transacted price is achieved at $780,000 by a 5 Room unit at Parkland Residences in Hougang.
 

  • In May 2020, there are two HDB resale flats transacted for at least $1,000,000.


4. Overall median Transaction Over X-Value (T-O-X) is POSITIVE $3,000 in May 2020. This represented an increase of $3,000 from April 2020. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

 

hdb median transaction over xvalue 2020 may


 

  • Both HDB 3 Room and 4 Room record POSITIVE $3,000 median T-O-X while 5 Room records a POSITIVE $2,000 and Executive posts a NEGATIVE $1,000.
  • Choa Chu Kang posts the highest median T-O-X at POSITIVE $4,500 in May 2020,
  • Yishun and Sengkang post the lowest median T-O-X at POSITIVE $1,000.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

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