Resale prices of Housing Board (HDB) flats dipped 0.2 per cent in October from September, according to flash estimates released by real estate portal SRX Property on Thursday.
October’s prices were down 14.3 per cent from its peak in April 2013, and also marked a 2.1 per cent decrease from the same month last year.
Three-room flats and five-room units saw a price increase of 0.8 per cent and 1.5 per cent respectively, while prices of four-roomers and executive flats fell 0.7 per cent and 2.2 per cent respectively.
In mature estates, resale prices were up 0.4 per cent from September. But in non-mature estates, prices dropped 0.6 per cent.
Meanwhile, the data showed that 1,994 HDB resale flats were sold in October, a 0.3 per cent dip from the 1,999 transacted units in September.
However, transactions in October were 11.8 per cent higher than the same month last year. A total of 1,783 resale flats were sold in October 2017.
In October, the overall transaction-over-x-value (TOX) was negative S$1,000. This figure is up S$100 from the S$1,100 in September.
TOX measures whether buyers are overpaying or underpaying, compared with SRX Property’s computer-generated market value.
It is the company’s take on cash-over-valuation, the premium paid on a flat’s expected value and which is no longer tracked by the HDB.
Three-roomers, five-roomers and executive flats had a median TOX of negative S$1,500, negative S$2,000 and negative S$3,000 respectively.
The median TOX for four-room units was zero.
Flats in Toa Payoh appeared to be in demand, posting the highest median TOX of S$8,500. This was followed by Geylang at S$6,000.
In contrast, flats in Clementi had the lowest median TOX of negative S$10,000, followed by Yishun at negative S$8,000.