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Resale prices of Singapore's public housing units fall 0.6 pct in June

Xinhua, July 7, 2016 Adjust font size:

Resale prices of Singapore's public housing units built by the Housing and Development Board (HDB) fell slightly in June, SRX Property said in its flash estimates released on Thursday.

HDB resale prices dropped 0.6 percent in June, both on a month-on-month and yearly basis.

A total of 1,823 resale flats were sold last month, slightly less than the 1,826 units in May. Compared to a year ago, resale volume increased 6.7 percent.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property's estimated market value, rose to zero from -1,000 Singapore dollars (-741 U.S. dollars) in the previous month.

About 80 percent of the resident population in Singapore live in high-rise flats built by the HDB and sold to local households under the basic principle of one unit per household. Endit