RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Most HDB flats sold below market value

Queenstown units were worst as they were priced $16,000 cheaper than market value.

HDB flats were overall bought less than market value as median Transaction Over X-Value (T-O-X) hit NEGATIVE $2,000 in September 2017.

According to the Singapore Real Exchange (SRX), the median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in September 2017 were NEGATIVE $4,000, NEGATIVE $2,000, NEGATIVE $3,000 and POSITIVE $2,500 respectively.

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

Buyers in Queenstown purchased units with a price most distant from the market value with the Median T-O-X hitting NEGATIVE $16,000, followed by Jurong East at NEGATIVE $9,000.

Meanwhile, Serangoon area continued to have the highest median T-O-X of POSITIVE $5,000 followed by POSITIVE $3,000 in Pasir Ris.

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