Condo Resale Prices Increase 1.4% in 2020, Climbing for Fifth Straight Month in December. 2020 Total Volume Up 18.1%

12 Jan 2021
Property Data
1. RCR and OCR prices increase by 0.3% and 0.5% while CCR price decrease 0.4% in December 2020.

According to the SRX Price Index for Condo Resale:

condo resale price index 2020 december

condo resale price index by region 2020 december

  • Month-on-month, overall prices increase by 0.3% over November 2020.
  • Price increase for the whole of 2020 is 1.4% (i.e. Dec 19 vs Dec 20), slightly lower than the 1.8% rise in 2019.
  • In terms of regions, in 2020, RCR and OCR prices increase by 0.5% and 3.0% respectively while CCR prices decrease by 1.4%.

2. An estimated 1,236 units are resold in December 2020, a 5.1% decrease from the 1,302 units resold in November 2020.

condo resale volume 2020 december

  • Volumes are 79.4% higher than in December 2019, and 96.4% higher than the 5-year average volumes for the month of December.
  • Breaking down by regions, in December 2020, 60.9% of the volumes are from OCR, 22.9% from RCR and 16.3% from CCR.
  • A total of 10,712 resale transactions are recorded for the whole of 2020, which is 18.1% higher than 2019.

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 Pebble Bay resold for $4.3 million.
  • In OCR, the highest transacted price is a unit at A Treasure Trove resold for $3.2 million.
4. Overall Transaction Over X-Value (T-O-X) is $15,000 in December 2020. This represented an increase of $4,000 as compared to November 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 december

condo resale tox by district 2020 december
  • District 4 (Sentosa / Harbourfront) posted the highest median T-O-X at POSITIVE $50,000, followed by District 10 (Tanglin / Holland / Bukit Timah) at POSITIVE $40,000 T-O-X.
  • District 1 (Boat Quay / Raffles Place / Marina) posted the lowest median T-O-X at NEGATIVE $22,500, followed by District 7 (Beach Road / Bugis / Rochor) at NEGATIVE $19,000 T-O-X.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.
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