HDB resale prices fall for 4th consecutive month

Resale prices for Housing and Development Board (HDB) flats dipped for the fourth month running, a decline seen across all HDB property types, according to the Singapore Real Estate Exchange (SRX).

HDB resale prices for May fell by 1.2 per cent over the previous month, marking a two-year low since April 2012. Prices for executive flats fell the most at 2.8 per cent, while 3- and 4-room flat prices dropped by 0.8 per cent, according to the SRX HDB Flash Report released on Thursday (June 5).

Resale volume also dropped by 11.1 per cent month-on-month, with 1,320 HDB flats sold last month, from April’s 1,484 units, the SRX said.

HDB units in Queenstown, Clementi and Jurong East, however, bucked the downward price pressure. These regions saw positive median Transaction Over X-Value (TOX) of S$6,500, S$1,000 and S$1,000, respectively, according to the report. The median TOX measures whether people are overpaying or underpaying the SRX estimated market value.

Source : Channel NewsAsia – 5 Jun 2014

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