Singapore

Fewer HDB resale flats sold in June, but prices grew slightly

Real estate portal SRX released flash estimates yesterday that showed 1,895 HDB resale flats sold last month, an 8.7 per cent decrease from the 2,076 units changing hands in May, with prices going up slightly - 0.1 per cent.

Last month's resale volume was also 4.8 per cent lower than the 1,991 units sold in the same month last year.

Prices of three-room, five-room and executive flats rose by 0.6 per cent, 0.3 per cent and 1.4 per cent respectively.

But prices for four-roomers fell by 0.3 per cent.

In mature estates, the prices were up 0.4 per cent while those in non-mature estates saw a dip of 0.1 per cent.

The SRX property price index for HDB resale flats revealed last month's prices were down 0.8 per cent from the previous year, and 14.1 per cent lower than the peak in April 2013.

Meanwhile, the overall median transaction over X-value (TOX) was zero in June, up $1,000 from the previous month.

The median TOX measures if people are overpaying ( positive TOX) or underpaying (negative TOX) relative to the SRX Property X-value estimated market value for flats.

Only four-room flats recorded a positive median TOX of $1,000 in June. Three-room and executive flats saw a median TOX of negative $3,000 and negative $1,000 respectively, while the median TOX for five-room flats was zero.

The estate in which buyers paid the highest median TOX of $18,000 was Bishan, followed by Jurong East, with $17,000.

Property