More HDB resale flats sold in January, reversing decline since July’s cooling measures: SRX

More HDB resale flats sold in January, reversing decline since July’s cooling measures: SRX

More HDB flats changed hands in January compared to December – a change in direction for the first time since last July’s cooling measures.

In all, 1,560 HDB resale flats were sold last month, 8.8 per cent more than in December, according to flash estimates from real estate portal SRX on Thursday.

It was also 43 per cent more than the 1,091 units sold in January 2018.

Resale prices compared to December inched up by 0.5 per cent. But compared to January last year, this was a 1.1 per cent decline, and 13.9 per cent down from its peak in April 2013.

The property market cooling measures introduced in July last year included tightened loan limits, although they do not apply to loans granted by HDB.

SRX data also showed the premium that buyers were prepared to pay over market value had increased last month compared to December.

The overall median transaction over X-value (TOX) rose S$1,000 to negative S$1,000.

However, buyers were more prepared to fork out more in relation to the valuation for bigger flats.

The TOX for five-room and executive flats were S$1,000 and S$4,000 respectively, but the TOX for three-room and four-room flats were negative S$4,000 and negative S$1,600.

The estate in which buyers paid the highest median TOX of S$8,000 was in Pasir Ris, followed by Woodlands with S$4,000.

Meanwhile, the mature estates of Clementi and Toa Payoh posted the lowest median TOX with negative S$8,500. Serangoon was next at negative S$7,000.

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