More resale flats sold in August

SINGAPORE: The resale prices of Housing and Development Board (HDB) flats fell slightly last month and significantly more flats were sold, according to flash estimates released by SRX Property on Thursday.

On a month-on-month basis, HDB resale prices were down 0.7 per cent in August. Compared to a year ago, prices declined by 0.2 per cent.

Resale prices of four-room flats led the decline, falling by 1 per cent compared to 0.6 per cent for both three-room and five-room flats. In contrast, the resale prices of executive flats rose by 0.8 per cent. Recent executive condo launches include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire ECBellewoods EC, Signature at Yishun, The Criterion ECWaterwoods EC, Skypark Residences, Wandervale EC, The Amore EC, Bellewaters EC.

A total of 1,879 resale flats were sold in August, significantly more than the 1,573 units transacted in July. This is also 29.9 per cent more than the number of flats sold in August 2015.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, remained constant from the previous month at -S$1,000.

For HDB towns with more than 10 resale transactions, Bishan posted the highest median TOX of S$15,000, followed by Serangoon with S$11,800. The lowest median TOX was in Kallang/Whampoa with -S$12,500, followed by Marine Parade with -S$12,000.