RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB resale prices dipped 0.8% in April

The number of flat resales fell 2.5% to 1,850 units.

The prices of HDB resales in April fell 0.8% from March, SRX Property revealed. The prices also dipped 2.4% from last year.

According to the SRX Property Price Index, the resale prices of HDB 3 Rooms, HDB 4 Rooms, HDB 5 Rooms and HDB Executive decreased by 0.3%, 0.4%, 0.5% and 1.2% respectively.

Meanwhile, HDB resale prices went down in both mature and non-mature estates by 1.5% and 0.2% respectively. On a yearly basis, prices in mature and non-mature estates also went down by 2.3% and 2.5% respectively.

There were 1,850 flat resales in April, 2.5% lower than the 1,897 units transacted last month. From last year, resale volume was slightly higher by 0.8% than 1,836 units.

SRX Property also revealed that most of the flat resales were transacted $1,000 below the market value in April as the median Transaction Over X-Value (T-O-X) for HDB was NEGATIVE $1,000 in April 2018.

The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

The median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in April 2018 were NEGATIVE $1,000, NEGATIVE $1,500, ZERO, and POSITIVE $11,500 respectively.

Most of the resales in Toa Payoh were sold over the market value by $11,000 (median T-O-X: POSITIVE $11,000). Resales in Clementi also jumped over the market price by $10,500. “This means that majority of the buyers in these towns have purchased units above the computer-generated market value,” SRX Property explained.

Meanwhile, units purchased in Choa Chu Kang and Bukit Merah were sold $9,000 below the market value. Majority of flats in Serangoon were bought $8,000 below the market value. 

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