The Housing and Development Board (HDB) resale market showed signs of recovery last month, with the number of units sold reaching a two-year high and prices inching up by 0.1 per cent, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Jul 9).
A total of 1,709 HDB resale flats were sold in June, an increase of 8.5 per cent from the previous month and up 30 per cent from a year ago. The figure is the highest since May 2013, SRX Property said.
Resale prices in June rose 0.1 per cent compared to the previous month, driven by bigger flats – prices of four-, five-room and executive flats rose by 0.3 per cent, 0.5 per cent and 0.7 per cent, respectively. In contrast, resale prices of three-room flats fell 0.2 per cent.
However, overall resale prices were down 4.4 per cent compared to a year ago, SRX Property said.
TOX TURNS POSITIVE
The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, improved from -S$2,000 in May to S$1,000 last month.
For HDB towns with more than 10 resale transactions in June, Serangoon posted the highest median TOX of S$19,000, followed by Clementi with S$7,000. The lowest median TOX was in Bukit Panjang with -S$11,500 followed by Bishan with -S$8,000.
Source : Channel NewsAsia – 9 Jul 2015