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Resale prices of Singapore's public housing units up 0.3 pct in March

Xinhua, April 6, 2017 Adjust font size:

Resale prices of Singapore's public housing units built by Housing and Development Board (HDB) inched up 0.3 percent in March compared to the previous month, said Singapore Real Estate Exchange (SRX Property) on Thursday.

SRX said HDB resale prices increased 0.3 percent compared to that of February. Resale prices of four-room, five-room HDB and HDB Executive increased by 0.3 percent, 0.3 percent and 1.7 percent respectively, while resale prices of three-room HDB decreased by 0.7 percent.

On the year-on-year basis, resale prices in March decreased by 0.1 percent compared to the same month last year, and registered a decline of 11.2 percent since the peak in April 2013.

According to HDB resale data compiled by SRX Property, 1,910 HDB resale flats were sold in March 2017, increasing 75.4 percent from 1,089 transacted units in February. Resale volume increased by 14.1 percent year-on-year compared to 1,674 units resold in March 2016. Resale volume was down by 47.7 percent compared to its peak of 3,649 units in May 2010.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property's estimated market value, was zero in March.

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