NLP Resale Prices and Volumes Increase 0.1% and 17.0% Respectively in March 2020

14 Apr 2020
Property Data
1. CCR and RCR prices decrease by 0.1% and 1.7% while OCR prices increase by 1.3% in March 2020.

non landed private resale price index 2020 march

non landed private resale price index by region 2020 march
According to the SRX Price Index for Non-Landed Private Residential Resale:
  • Month-on-month, overall prices increase by 0.1% over February 2020.
  • Year-on-year, overall prices increase by 0.4% over March 2019.
  • In terms of regions, year-on-year, RCR prices decrease by 0.8% while CCR and OCR record price increases of 1.0% and 0.7%.
2. An estimated 709 units were resold in March 2020. This is a 17.0% increase, compared to 606 units resold in February 2020.

non landed private resale volume 2020 march

  • Volumes are 13.0% lower than in March 2019, and 21.0% lower than the 5-year average volume for the month of March.
  • Breaking down by regions, in March 2020, 57.5% of the volume comes from OCR, 22.9% comes from RCR and 19.6% comes from CCR.
3. The highest transacted price for a resale unit in the month is achieved at $10.5 million at The Ritz-Carlton Residences.
  • In RCR, the highest transacted price is a unit at Pebble Bay resold for $4.4 million.
  • In OCR, the highest transacted price is a unit at Flamingo Valley resold for $3.3 million. 
4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $2,000 in March 2020. This represented no change as compared to February 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 march
non landed private resale tox by district 2020 march
  • District 9 (Orchard / River Valley) posted the highest median T-O-X at POSITIVE $40,000, followed by District 8 (Farrer Park / Serangoon Rd) at POSITIVE $35,000.
  • District 20 (Ang Mo Kio / Bishan / Thomson) posted the lowest median T-O-X at NEGATIVE $62,000, followed by District 15 (East Coast / Marine Parade) at NEGATIVE $30,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.
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