Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

Research from SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

Singapore Real estate / Thematic (Sector/Industry)

<h2>Singapore</h2><h3>Condo resale prices up 0.9% MoM to a new high in May21; Volume dips amid Covid-19 curbs</h3><p>Private resale housing market saw prices in May inch up 0.9%  MoM to a new high, even while the number of condominium units resold dipped by 11.4% MoM as tightened Covid-19 measures restrict property viewings. The limit on group sizes, which is in place till 13Jun, has put a slight drag on resale volume, with 1,722 units changing hands in May, compared with 1,944 units in Apr, according to SRX. The sales drop was not as drastic compared with the circuit breaker period last year when volume plunged 57.6% from 747 units in Mar20 to 317 units in Apr20. Volumes last month were up strongly by 811% YoY from the 189 units resold in May20, when the circuit breaker was in effect. It is also 86.6% higher than the five-year average volume for the month of May. Despite viewing restrictions, May prices remained strong and rose 6.9% YoY. Prices of resale condo units in the city fringe grew by 1.8%, the fastest among the three market segments. Those in the outside central region grew by 0.8%, while prices in central Singapore slipped by 0.7%.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/212/047/original/image003+%282%29.png?1623202523" class="editor-image img-responsive" data-smartkarma-image-id="212047"></figure><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/212/048/original/image004.png?1623202538" class="editor-image img-responsive" data-smartkarma-image-id="212048"></figure></section></section>

SingaporeCondo resale prices up 0.9% MoM to a new high in May21; Volume dips amid Covid-19 curbsPrivate resale housing market saw prices in May inch up 0.9%  MoM to a new high, even while the number of condominium units resold dipped by 11.4% MoM as tightened Covid-19 measures restrict property viewings. The limit on group sizes, which is in place till 13Jun, has put a slight drag on resale volume, with 1,722 units changing hands in May, compared with 1,944 units in Apr, according to SRX. The sales drop was not as drastic compared with the circuit breaker period last year when volume plunged 57.6% from 747 units in Mar20 to 317 units in Apr20. Volumes last month were up strongly by 811% YoY from the 189 units resold in May20, when the circuit breaker was in effect. It is also 86.6% higher than the five-year average volume for the month of May. Despite viewing restrictions, May prices remained strong and rose 6.9% YoY. Prices of resale condo units in the city fringe grew by 1.8%, the fastest among the three market segments. Those in the outside central region grew by 0.8%, while prices in central Singapore slipped by 0.7%.

ASEAN Builder's Scoop (9Jun21) - Condo Resale Price Reaching New High in May21