{"id":72565,"date":"2024-01-26T18:08:01","date_gmt":"2024-01-26T10:08:01","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=72565"},"modified":"2024-01-26T18:08:01","modified_gmt":"2024-01-26T10:08:01","slug":"condo-resale-market-in-december-2023-an-analysis","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/condo-resale-market-in-december-2023-an-analysis\/","title":{"rendered":"Condo resale market in December 2023: An analysis"},"content":{"rendered":"
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The December 2023 condo resale flash report offers vital insights into the resale market of condominiums and apartments. This article delves into the report’s key findings, shedding light on the dynamics of resale prices and volumes, which are pivotal for buyers, sellers, and investors alike.<\/p>\n

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Condo resale prices trend<\/h2>\n

December 2023 witnessed a nuanced shift in the condo resale market, with prices showing a modest increase of 0.5% compared to the previous month and a significant 7.5% rise year-on-year. This trend underscores a robust demand in the market, reflecting both short-term growth and sustained yearly appreciation.<\/p>\n

We first take a look at the price trends:<\/p>\n

\"condo<\/a><\/p>\n

Regionally, the Core Central Region (CCR)<\/a> saw a remarkable 4.0% increase, whereas the Rest of Central Region (RCR)<\/a> and Outside Central Region (OCR)<\/a> experienced increases of 8.3% and 8.2%, respectively. These variations highlight the diverse market dynamics at play across different areas of the city. We can see all these in the table below:<\/p>\n

\"condo<\/a><\/h2>\n
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Resale volume<\/h2>\n

The volume of resale transactions in December 2023 presented a contrasting picture. With 743 units resold, there was a 10.4% decrease from November 2023<\/a>. Despite this monthly dip, the volume was still 7.1% higher compared to December 2022, indicating a year-over-year growth. However, it was 11.7% lower than the five-year average for December, suggesting a nuanced long-term trend.<\/p>\n

Below we can see the resale volume trends:<\/p>\n

\"condo<\/a><\/p>\n