Business

More HDB flats sold last month, prices also up

This article is more than 12 months old

The year has begun on an upbeat note for the Housing Board resale market.More HDB flats changed hands last month compared with December and prices inched up by 0.5 per cent.

In all, 1,920 HDB resale flats were sold last month, 3.3 per cent more than in December, flash estimates from real estate portal SRX showed yesterday.

The figure represented a turnaround, a reversal of the 3 per cent slide in December from the preceding month. It was 23.1 per cent more than the 1,560 units sold in January last year. Compared to then, prices went up by 0.3 per cent last month.

Flats in non-mature estates rose by 0.8 per cent while flats in mature estates fell by 0.1 per cent compared with December.

The most expensive resale flat that changed hands last month was an executive apartment unit in Lorong 2 Toa Payoh, which sold for $1.025 million. An executive maisonette unit in Hougang Street 21 went for $853,000, the highest price in a non-mature estate.

There were also four HDB resale flats, which transacted for at least $1 million last month.

Resale flat buyers last month "underpaid", based on what SRX estimates to be the market value for flats. The overall median transaction over X-value (TOX) was a negative $500 last month, a decrease of $1,500 compared with December.

TOX measures how much a buyer is overpaying (positive value) or underpaying (negative value) for a property based on SRX's computer-generated market value. The data includes only districts with more than 10 resale transactions.

Flats in Woodlands recorded the highest median TOX at a positive $10,500, followed by flats in Bukit Batok, at a positive $6,800. Flats in Punggol recorded the lowest median TOX, at a negative $6,500, followed by flats in Toa Payoh, at a negative $6,100. - THE STRAITS TIMES

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