SRX Property quoted on May 5 that the prices of Housing and Development Board (HBD) resale flats dropped down lightly by 0.1 per cent on the month of April. The price downfall was steered by the 0.9 percent low resale price of five-room flats. On the other hand, the resale price of three-room flats as well as the executive flats surged to 0.1 per cent and 0.6 per cent subsequently while the process for four-room flats remained the same. In total, the prices have lowered to 0.2 per cent when compared to the same period last year and 11.1 per cent from its spike in April 2013.
SRX Property further mentioned that a total of 1,828 HBD resale flats were all sold in March which is considered to be a record high after the introduction of cooling measures in 2013. This meant a 10.3 per cent growth from the transaction last month with 1,657 transacted units. It is also 13.5 per cent higher when compared to the volume sold April 2015.
The overall median Transaction Over X-Value (TOX) was noted to be zero on March. TOX measures if people are underpaying or overpaying the SRX Property’s estimated market value. As for the HBD towns known to have more than 10 resale transactions, Queenstown was reported with the highest median TOX of S$11,000. Tampines come next with s$8,000 while Clementi and Pasir Ris were noted with the lowest median TOX of -S$10,000 and –S$8,000 respectively.
