Business

More HDB resale flats sold but prices dip slightly for second month

Prices of Housing Board resale flats dipped slightly for the second month running, but the volume of flats sold increased.

Last month's prices fell 0.6 per cent compared with January prices, according to SRX flash estimates yesterday.

January prices had also fallen 0.5 per cent from last December's prices.

However, there was a 9.6 per cent increase in resale flats sold last month - from 1,090 units to 1,195 units.

Prices for last month have decreased 2.4 per cent from February last year and are down 13.5 per cent since the peak in April 2013.

The resale prices of three-room, four-room and executive flats decreased, but prices of five-room flats increased by 0.5 per cent compared with January.

Prices in mature estates remained the same, but the prices of flats in non-mature estates went down by 1.1 per cent.

Pasir Ris and Serangoon featured the highest median transaction over x-value (TOX) figures. This means that many buyers in these areas purchased units above the computer-generated market value.

Ang Mo Kio and Toa Payoh had the most negative median TOX figures.

SRX said the majority of buyers in both towns bought flats below the market value. - THE STRAITS TIMES

Property