SINGAPORE – Housing Board resale prices fell by 0.7 per cent in September from August, and by 2.1 per cent compared to a year ago.
While four-room flats recorded a price increase of 0.6 per cent from August, three-roomers, five-roomers and executive flats saw prices drop by 1.3 per cent, 1.3 per cent and 1.9 per cent respectively.
Prices in mature estates fell by 1.2 per cent, while the drop in non-mature ones was 0.3 per cent.
These flash figures, released by SRX Property on Thursday (Oct 4), also showed that 1,996 flats changed hands – a 3.9 per cent drop from August. However, this was 18.7 per cent more transactions than the year before.
In September, the overall transaction-over-x-value (TOX) was negative $1,100. It was zero in August.
TOX measures whether buyers are overpaying or underpaying, compared with SRX Property’s computer-generated market value.
It is the company’s take on cash-over-valuation, the premium paid on a flat’s expected value and which is no longer tracked by HDB.
Three-roomers, four-roomers and five-roomers saw a median TOX of negative $2,000, negative $2,000 and negative $2,100 respectively.
Executive flats had a median TOX of $3,500.
The area that saw the highest median TOX was Geylang, at $6,000, followed by Clementi with $5,900.
Bukit Merah had the lowest median TOX at negative $22,000, followed by Bishan with negative $6,500.
“Source:[HDB resale prices down 0.7% in September from August, transactions fall 3.9%: SRX] © Singapore Press Holdings Limited. Permission required for reproduction”
