{"id":73052,"date":"2024-02-26T18:11:19","date_gmt":"2024-02-26T10:11:19","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=73052"},"modified":"2024-02-26T18:11:19","modified_gmt":"2024-02-26T10:11:19","slug":"condo-resale-capital-gains-surge-first-price-drop","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/condo-resale-capital-gains-surge-first-price-drop\/","title":{"rendered":"Condo resale capital gains surge by S$42k; First price drop in 5 months"},"content":{"rendered":"
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In a recent article, we discussed how a recently <\/span>MOP-ed HDB in Kallang witnessed a capital gain of S$500k<\/span><\/a>. Building on this, the condo resale market<\/a> is seemingly experiencing a surge in capital gains.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

However, amidst this surge, a notable event unfolds – the first price drop in five months, signalling potential shifts in the real estate landscape.<\/span><\/p>\r\n\r\n\r\n\r\n

Insights into January’s condo resale market trends<\/b><\/h2>\r\n\r\n\r\n\r\n

According to Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co, January witnesses historically low condo resale volume, averaging 737 transactions over the past 5 years.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Interestingly, prices have dipped by 0.8% after five consecutive months of stability. This dip could be attributed to prospective buyers awaiting new launch developments such as <\/span>The Arcady @ Boon Keng<\/span><\/a> and <\/span>Lumina Grand Executive Condominium<\/span><\/a>.<\/span><\/p>\r\n\r\n\r\n\r\n

Despite the lower volume and price levels, median capital gains have surged by S$42k, indicating owners’ inclination to capitalise on the appreciating market.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

This surge suggests an anticipation of a subdued condominium resale market in the months to come.\u00a0<\/span><\/p>\r\n

Interested in reading more on this trend?<\/strong> Head on over to our article here: Here\u2019s why January had the lowest private home sales in 15 years<\/a><\/em><\/p>\r\n

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\"Condo<\/a><\/figure>\r\n

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CCR and OCR prices increase, while RCR prices decrease<\/b><\/h2>\r\n

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The SRX Price Index for condo resale reveals that CCR<\/a> and OCR prices have seen an increase of 1.4% and 0.2%, respectively, in January 2024.\u00a0<\/span><\/p>\r\n

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However, RCR<\/a> prices have witnessed a decrease of 0.6% during the same period.<\/span><\/p>\r\n

Exploring the idea of living near an MRT station?\u00a0<\/em><\/strong>Check out\u00a0our\u00a0<\/a>MRT directory<\/a>\u00a0for valuable insights and information to guide your decision.<\/em><\/p>\r\n

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\"January<\/a><\/figure>\r\n

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Decrease in resale volume<\/b><\/h2>\r\n

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In January 2024, an estimated 740 units were resold, marking a 0.6% decrease from December 2023. Despite this, volumes remain significantly higher compared to January 2023<\/a>, with a 43.7% increase. <\/span><\/p>\r\n

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Notably, 53.8% of the volume comes from OCR, 27.3% from RCR, and 18.9% from CCR.<\/span><\/p>\r\n

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