Resale volumes rise amidst prices drop #katonghomes

According to SRX flash estimates earlier in the week, resale prices of condos and private apartments fell 0.2% on average in March compared to the preceding month. The prices were down 3.9% from March year-on-year (y-o-y). However the resale volumes rose 31% month-on-month (m-o-m) to an estimated 440 units for the month. Still the volume is still 18.6% down from the same month one year ago. Resale price in central region fell 0.3% m-o-m and 7% y-o-y. Subruban resale prices fell 0.4% m-o-m and 2.8% y-o-y. City fringe resale prices rose 0.4% for the m-o-m, and 1.4% y-o-y. Overall resale prices fell 6.2% from the previous peak in Jan 2014.