NLP Sees 0.2% Price Drop Amidst a Massive 57% Volume Drop During Circuit-Breaker

12 May 2020
Property Data
1. RCR and OCR prices decrease by 0.5% and 0.8% while CCR prices increase by 1.4% in April 2020. According to the SRX Price Index for Non-Landed Private Residential Resale:

non landed private resale price index 2020 april
non landed private resale price index by region 2020 april
  • Month-on-month, overall prices decrease by 0.2% over March 2020.
  • Year-on-year, overall prices decrease by 0.7% over April 2019.
  • In terms of regions, year-on-year, RCR and OCR prices decrease by 0.1% and 1.6%, respectively, while CCR prices increase by 0.4%.
2. An estimated 309 units were resold in April 2020. This is a 57.3% decrease, compared to 723 units resold in March 2020.

non landed private resale volume 2020 april
  • Volumes are 62.2% lower than in April 2019, and 66.8% lower than the 5-year average volumes for the month of April.
  • Breaking down by regions, in April 2020, 58.1% of the volumes are from OCR, 23.2% from RCR and 18.8% from CCR.
3. The highest transacted price for a resale unit in the month is achieved at $27.7 million at Ardmore Park in CCR.
  • In RCR, the highest transacted price is a unit at The Waterside resold for $3.8 million.
  • In OCR, the highest transacted price is a unit at Hillion Residences resold for $2.7 million. 
4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $11,000 in April 2020. This represented a $9,000 decrease as compared to March 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 april
non landed private resale tox by district 2020 april
  • District 26 (Mandai / Upper Thomson) posted the highest median T-O-X at POSITIVE $52,500, followed by District 1 (Boat Quay / Raffles Place / Marina) at POSITIVE $5,000.
  • District 10 (Tanglin / Holland / Bukit Timah) posted the lowest median T-O-X at NEGATIVE $50,000, followed by District 20 (Ang Mo Kio / Bishan / Thomson) at NEGATIVE $35,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.
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