RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB resale volume jumped 58.5% in March

Prices were slightly down by 0.8%.

The resale volume of HDB flats surged by 58.5% from 1,195 units in February to 1,894 units in March 2018, SRX Property revealed. The yearly decrease is a marginal 0.8% YoY compared to 1,910 units in 2017.

According to flash data, resale volume was down by 48.1% compared to its peak of 3,649 units in May 2010.

Meanwhile, HDB resale prices dipped 0.8% in March compared to that of February. They have also fallen by 1.9% YoY and 0.6% QoQ. The resale prices of HDB 4 Rooms, HDB 5 Rooms, and HDB Executive increased by 1.4%, 0.2% and 0.8% respectively, whilst HDB 3 Rooms decreased by 0.4%.

HDB resale prices in mature estates went up by 1.4% and in non-mature estates increased by 0.3%. On a YoY basis, prices in mature estates fell 1.7% whilst non-mature estates dropped 2.1%.

SRX Property also revealed that majority of the buyers in Bedok bought units by around $7,500 above the market value, as it posted the highest median Transaction Over X-Value (T-O-X) for the month. Buyers in Queenstown bought units $16,000 below the market value, having the lowest median T-O-X.

The overall median T-O-X in Singapore is NEGATIVE $2,000, down by $3,000 compared to the figure in February. The median T-O-X for HDB 3 Room, 4 Room, 5 Room, and Executive flats were NEGATIVE $2,000, NEGATIVE $3,000, NEGATIVE $1,500 and NEGATIVE $2,500 respectively.

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