Prices for HDB resale flats remain unchanged in Q3

The resale prices of Housing and Development Board (HDB) flats rose slightly last month, but there were fewer flats sold, according to flash estimates released by SRX Property on Thursday (Oct 6).

On a month-on-month basis, HDB resale prices were up 0.1 per cent in September. Compared to a year ago, prices declined by 0.4 per cent.

Resale prices of five-room flats led the rise, increasing by 1.2 per cent compared to 0.8 per cent for the four-room flats. In contrast, the resale prices of executive flats fell by 0.4 per cent while prices for three-room flats fell 1.4 per cent.

A total of 1,666 resale flats were sold in September, fewer than the 1,879 units transacted in August. However, this was 162 units more than the same time a year ago, according to the flash estimates.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, has increased from the previous month, jumping from –S$1,000 to S$2,000.

For HDB towns with more than 10 resale transactions, Geylang posted the highest median TOX of S$14,500, followed by Toa Payoh with S$13,000.

The lowest median TOX was in Ang Mo Kio with -S$8,500, followed by Pasir Ris with -S$5,000.

Source : Channel NewsAsia – 6 Oct 2016

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