June 2020 Sees Condo Resale Volumes Recovering With Prices Stable

14 Jul 2020
Property Data
1. CCR and RCR prices decrease by 1.8% and 1.1%, while OCR prices increase by 1.4% in June 2020. According to the SRX Price Index for Condo Resale:

condo resale price index 2020 june
condo resale price index by region 2020 june
  • Month-on-month, overall prices remain unchanged over May 2020.
  • Year-on-year, overall prices decrease by 0.6% over June 2019.
  • In terms of regions, year-on-year, CCR, RCR and OCR prices decrease by 1.1%, 0.8% and 0.4%, respectively.

2. An estimated 497 units were resold in June 2020, a 174.6% increase from the 181 units resold in May 2020.
condo resale volume 2020 june
  • Volumes are 26.3% lower than in June 2019, and 40.7% lower than the 5-year average volumes for the month of June.
  • Breaking down by regions, in June 2020, 52.3% of the volumes are from OCR, 27.4% from CCR and 20.3% from RCR.

3. The highest transacted price for a resale unit in the month is achieved at $12.2 million at Skyline @ Orchard Boulevard.
  • In RCR, the highest transacted price is a unit at Floridian resold for $3.9 million.
  • In OCR, the highest transacted price is a unit at The Tembusu resold for $4.6 million. 

4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $10,000 in June 2020. This represented no change as compared to May 2020. The median T-O-X for Condo Resale measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

condo resale median transaction over xvalue 2020 june
condo resale tox by district 2020 june
  • District 23 (Dairy Farm / Bukit Panjang / Choa Chu Kang) posted the highest median T-O-X at POSITIVE $5,000, followed by District 3 (Alexandra / Commonwealth) and District 27 (Sembawang / Yishun) at ZERO T-O-X.
  • District 9 (Orchard / River Valley) posted the lowest median T-O-X at NEGATIVE $80,000, followed by District 16 (Bedok / Upper East Coast) at NEGATIVE $38,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.
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