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HDB resale transactions up 16% in Oct, prices remain flat: SRX

SINGAPORE — Last month saw the highest number of Housing and Development Board (HDB) resale flats sold in a month this year, according to flash figures from SRX Property released today (Nov 5).

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TODAY file photo

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SINGAPORE — Last month saw the highest number of Housing and Development Board (HDB) resale flats sold in a month this year, according to flash figures from SRX Property released today (Nov 5).

A total of 1,745 HDB resale flats were sold last month, 16 per cent more than in September. 

Additionally, SRX Property’s data showed that HDB resale prices remained flat month-on-month in October. While the resale prices of HDB three-room and executive flats saw marginal increases of 0.7 per cent and 0.9 per cent respectively, the resale prices of four- and five-room flats decreased by 0.8 per cent and 0.1 per cent, respectively.

Compared with October last year, HDB resale prices have decreased by 2.6 per cent, said SRX Property. Prices have declined by 11.7 per cent since the peak in April 2013.

The median Transaction-Over-X-Value (T-O-X), which measures how much a buyer is overpaying or underpaying SRX’s estimated market value, was up by S$1,000.

Flats in Bishan posted the highest median T-O-X of S$15,000. Among HDB towns having more than 10 resale transactions last year, Queenstown had the second-highest median T-O-X at $7,000.

Some areas showed negative median T-O-X. HDB resale flats in the Central area and in Hougang were negative S$17,000 and negative S$5,500, respectively. 

This means that majority of the buyers in these towns purchased units below the computer-generated market value.

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