Singapore Condo Resale Market: October 2023 Insights

Singapore Condo Resale Market: October 2023 Insights : Condo resale volumes recover in October

Singapore Condo Resale Market: October 2023 Insights

As we step into the final months of 2023, the condominium resale market in Singapore has unfolded intriguing trends. Let’s delve into the wealth of data from SRX and 99.co, dissecting the October numbers to decipher the market’s pulse.

Resilience in Transaction Volumes

  1. Volume Rebound: October witnessed a resilient bounce, with 838 units changing hands, marking a 14.7% surge from the previous month.
  2. Year-on-Year Dynamics: Despite the positive momentum, there was a 9.2% dip compared to the same period last year, raising questions about the market’s overall stability.

Price Dynamics Painting a Mosaic

  1. Steady Upward Trajectory: Overall, resale prices inched up by 0.4% month on month and an impressive 7.5% year on year.
  2. Regional Variations: The Outside Central Region (OCR) took the spotlight with a remarkable 10.4% year-on-year surge, showcasing the diverse landscape of Singapore’s real estate. Lentor Mansion condo is part of OCR.

Navigating the Path Ahead

  1. Anticipated Lull: Industry experts foresee a potential slowdown as the year concludes, attributing it to the anticipated lull during the year-end holidays.
  2. Cautious Optimism: While the market grapples with uncertainties, there’s a cautious optimism prevailing among experts, projecting a possible 8% cap on price gains in 2023.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *