Prices of HDB resale flats inch down further in April: Property index

The resale prices of Housing and Development Board (HDB) flats inched down slightly by 0.1 per cent on-month in April, SRX Property said on Thursday (May 5).

The price decline was driven by five-room flats, whose resale prices fell by 0.9 per cent. In contrast, the resale prices for three-room flats and executive flats rose 0.6 per cent and 0.1 per cent, respectively, and prices for four-room flats stayed the same.

Overall, prices have declined 0.2 per cent from the same period a year ago and 11.1 per cent from the peak in April 2013, SRX Property said.

A total of 1,828 HDB resale flats were sold last month – a record high since cooling measures were introduced in 2013 according to SRX Property. This was a 10.3 per cent rise from the 1,657 transacted units the previous month, and 13.5 per cent higher than the volume sold in April 2015, SRX Property said.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, was zero last month.

For HDB towns with more than 10 resale transactions, Queenstown reported the highest median TOX of S$11,000, followed by Tampines with S$8,000. The lowest median TOX were in Clementi and Pasir Ris, at -S$10,000 and -S$8,000 respectively.

Source : Channel NewsAsia – 5 May 2016

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