HDB resale prices inch up 0.2% in May: Property index

The resale prices of Housing and Development Board (HDB) flats inched up in May, but resale volume remained flat, according to estimates released by SRX Property on Thursday (Jun 9).

On a month-on-month basis, HDB resale prices were up 0.2 per cent last month. Compared to a year ago, prices remained flat.

Resale prices of three-room and five-room flats rose by 0.7 per cent, while prices of executive flats increased by 0.4 per cent. In contrast, the resale prices of four-room flats decreased by 0.7 per cent.

A total of 1,826 resale flats were sold in May, similar to the 1,828 units transacted in April. However, compared to a year ago, resale volume was up 15.9 per cent.

TOX NEGATIVE

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property’s estimated market value, fell to -S$1,000, compared to zero in April.

For HDB towns with more than 10 resale transactions, Sembawang posted the highest median TOX of S$6,000, followed by Geylang with S$3,500. The lowest median TOX were in Hougang at -S$12,000, followed by Ang Mo Kio at -S$7,500.

Source : Channel NewsAsia – 9 Jun 2016