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The number of Singapore condominium units resold last year totalled just 9,017, sliding 27.4 per cent from 2018, according to real estate portal SRX Property's latest report on the non-landed private residential resale market.
As for December 2019, an estimated 650 units were resold during the month, dropping 15.4 per cent from the previous month but increasing 21.5 per cent year on year (y-o-y), according to SRX's report.
Last December's volume is also 15.3 per cent higher than the five-year average volume for the month.
Commenting on the full-year resale volume, Christine Sun, head of research and consultancy at OrangeTee, said that the stronger sales in 2018 was mainly driven by the higher number of transactions in the first half of 2018, before the cooling measures were implemented in July 2018. "After the cooling measures were implemented, demand for resale homes remained subdued in the second half of 2018," Ms Sun added.
Real estate related news stories from Singapore
- Citizens from new markets among buyers of top condos here
- Freehold 12-unit Casa Sophia sold en bloc for S$29m
- Van Holland sells 10 units at average S$2,975 psf at launch
- Tee International to sell Tee Land stake to Amcorp for S$50.62m
- SLB back in the black with Q2 gain
- SPH revenue falls 3.8 per cent in Q1, but property still a bright spot
- SPH profits fell 17.2% to $46.33m in Q1
- TEE International sells 63.28% stake in TEE Land to Amcorp Supreme for $50.62m.
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- Celebrity homes that will turn you absolutely green with envy
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