Singapore condo resale volume shrinks 27.4% in 2019: SRX | / Property news / Singapore condo resale volume shrinks 27.4% in 2019: SRX

Singapore condo resale volume shrinks 27.4% in 2019: SRX

Fresh property news selection on January 14. 2020, Tuesday.

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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.

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