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