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October's sales figure represented a 21.6 per cent jump from the 1,241 units resold in September.

Sales of resale condos hit 2-year high in October

The resale apartment market reached a two-year high in October with 1,509 devices altering hands the very same month, according to blink figures from real estate portal SRX Home on Tuesday (Nov 10).

It exceeded the 1,311 transactions videotaped in August, which was the greatest month-to-month resale quantity because of May 2018.

October’s sales figure stood for a 21.6 percent dive from the 1,241 non-landed exclusive systems re-seller in September.

The volume of resold units negotiated last month was likewise 72.9 per cent more than in October last year.

According to SRX information, total rates of resale apartment climbed by 0.8 percent from September to October, with month-on-month rate growth across all 3 regions.

The core central area (CCR) increased by 0.5 per cent, the rest of the main region (RCR) by 1 per cent, and the outside central area (OCR) by 0.8 per cent.

Ms Wong Siew Ying, PropNex head of the study and also content, stated that deals of resale devices last month were driven mainly by sales of mass-market residences, which represented 58 percent of the complete quantity.

Quick sales in the private apartment resale market seem to be extensively in line with the private brand-new residence sales market and the Real estate Board resale section, mirroring a “healthy underlying demand for residences”, she kept in mind.

“Sales have been fairly quick in current months as buyers go into the market, sensing that the most awful might more than as well as taking self-confidence from the slowly recovering economic climate.

“Bargain hunters would certainly also be on the prowl, searching the resale market for good worth purchases amidst the economic slump,” she added.

The highest negotiated rate in October was for a resale system at Wallich Residence in Tanjong Pagar, which was cost $62 million. Woodleigh Residences price list will help you understand the price relates issues.

The greatest transacted rate in the RCR was $9.1 million for a unit in Reflections at Keppel Bay in Harbourfront while a system in Costa Del Sol, off Upper East Coast Road, marketed for $2.9 million, the highest possible rate in OCR.

Looking in advance, PERIOD Realty study, as well as consultancy head Nicholas Mak, said the recovery seen in the resale condominium market in the past three months is “just the beginning”.

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