Singapore's public housing flat resale prices decline in March
Xinhua, April 9, 2015 Adjust font size:
The resale prices for Housing and Development Board (HDB) flats in Singapore dropped by 0.8 percent on-month in March, according to the HDB on Thursday.
The prices of all property types decreased in March, except HDB executive flats which rose 1 percent. Resale prices for three-room and four-room flats dropped by 0.9 percent and 1.1 percent respectively, while five-room flats experienced a 0.5 percent decline.
SRX Property said prices have declined 6.6 percent from the same period a year ago and 11.1 percent from the peak in April 2013 on the whole.
A total of 1,349 HDB resale flats were sold last month, an 17.5 percent increase from the 1,148 transacted units in February. The resale volume was down 5 percent compared with a year ago, SRX Property said.
The overall median Transaction Over X-Value (TOX), a measurement of whether people are overpaying or underpaying SRX Property's estimated market value, remained negative.
About 80 percent of the resident population in Singapore live in high-rise flats built by the Housing and Development Board and sold to local households under the basic principle of one unit per household. Endi