Residential

SRX: resale condo sales increase

According to SRX, there was a 15.3 percent increase in the number of non-landed private homes sold in September versus August, with 468 units transacted in September. Market experts believe that resale prices might be stabilising. The overall median transaction over X-value (TOX), which indicates how much buyers pay over past comparable units, was negative $2,000 in September. This is less than the negative $10,000 that was recorded by SRX in August this year. Nonetheless, the non-landed private residential resale price index fell 0.3 percent month-on-month from August to September, according to SRX flash estimates. This was 4.6 percent lower than in 2013. Eugene Lim from ERA Realty said that property sellers are not pressured to cut prices due to favourable economic conditions. Mohd Is