SG Morning Highlights | Condo Resale Volumes Fall 17.9% in April, Prices Rise 1.2%

Advancers / Decliners is 55 to 92, with 70.91 million securities worth S$105.11 million changing hands.

Private condominium resale volumes fell in April while prices rose, according to flash estimates from SRX and 99.co released on Tuesday (May 30).

Resale transactions for condominium units totalled 919 in April, a 17.9 per cent decrease from the 1,119 units resold in March.

Sales volumes were 29.7 per cent lower than they were in the same month a year ago, and 12.9 per cent lower than the five-year average volumes for the month of April.

Some 6,995 new public housing flats are up for offer in the Housing and Development Board's (HDB) latest Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise, launched on Tuesday (May 30).

A total of 5,945 BTO flats were offered across five projects in both mature and non-mature estates in Bedok, Kallang, Whampoa, Serangoon and Tengah, with one project in Farrer Park under the Prime Location Public Housing (PLH) model.

Out of the 1,500 SBF units being offered, about 61 per cent have been completed; the rest are still being constructed.

Singapore's private residential property is now the most expensive in the Asia-Pacific, overtaking Hong Kong in 2022, according to a report released by the Urban Land Institute (ULI) on Tuesday (May 30).

ULI noted that the median price of Singapore's private-sector homes now stands at US$1.2 million, compared with Hong Kong at US$1.16 million.

In the next-highest market, Sydney single-family homes were a median US$980,000.

The offer is being made with a view to delist the company from the Singapore Exchange (SGX), as indicated by a bourse filing on Tuesday (May 30) afternoon.

The offeror, DigiTech Holding, is the bid vehicle of a consortium formed by Challenger's majority shareholders that collectively hold around 54.4 per cent of the company's shares. The consortium comprises Asia Consumer Electronics, a special purpose vehicle (SPV) linked to Dymon Asia Private Equity, and Fortuna Capital, an SPV wholly owned by Challenger chief executive Loo Leong Thye.