The overall non-landed private residential resale prices in Singapore increased by 0.4% month-on-month in October, marking a three-month consecutive rise, but the increase was lower than the 0.8% in September. This trend was supported by mass-market and mid-tier private homes and the impact of buyers returning to the market after the "Ghost Festival."

Correspondingly, the overall private residential resale volume also increased as buyers aimed to complete transactions before the year-end, rising by 14.7% month-on-month to 838 units.

However, at the same time, resale prices in the Core Central Region (CCR), representing high-end private homes, declined by 1.5% month-on-month in October, marking a three-month consecutive decline with an expanding decline.

In contrast, the resale prices of private homes Outside Central Region (OCR), representing mass-market private homes, saw the largest month-on-month increase at 2.5%; and Resale prices in Other Central Region (RCR), representing mid-tier private homes, increased by 1.9% month-on-month.

As market supply increases and vacancy rates reach the highest level in five years, some observers believe that overall private residential resale prices may soon reach their peak.

Comparing to the same period last year, overall non-landed private residential resale prices increased by 7.5% in October, with high-end, mid-tier, and mass-market private homes experiencing year-on-year resale price increases of 2.3%, 8.0%, and 10.4%, respectively.

Additionally, as the year-end approaches, the private residential resale market is expected to enter a "breather" stage, with a projected full-year price increase of around 8%.

It's noteworthy that the resale transaction volume for high-end private homes increased significantly in October, with a month-on-month increase of 33.9%, surpassing mass-market private homes (4.4%) and mid-tier private homes (0.4%) by a large margin.

From the data, resale prices of high-end private homes remained relatively stable, prompting more buyers to consider units in that area. The transaction rate for deals below SGD 5 million in this area increased from 90.4% in September to 95.5% in October.

However, there are some variables in the resale volume, as public viewings may decrease in the next two months with the approach of the year-end holidays, and resale volume may only recover in January next year.

Furthermore, according to data released by the National University of Singapore's Institute of Real Estate and Urban Studies (IREUS), overall non-landed private residential resale prices increased by 0.9% month-on-month in October, higher than the 0.7% increase in September.

Excluding small apartments, resale prices of non-central private homes in the central region increased by 0.4% month-on-month, resale prices of non-central private homes excluding small apartments increased by 1.1% month-on-month, while resale prices of small apartments increased by 0.8% month-on-month.

However, there are some discrepancies in data released by different institutions. For example, IREUS reported a sharp 45.6% month-on-month decline in October non-landed private residential resale volume, which significantly differs from SRX's estimated data (14.7% month-on-month growth). This discrepancy may arise from differences in data collection scope and methods and should be noted.