SINGAPORE — The resale prices of Housing and Development Board (HDB) flats fell slightly last month and significantly more flats were sold.

Flash estimates released by the Singapore Real Estate Exchange (SRX Property) showed that resale prices in August were down 0.7 per cent compared to the month before. Year-on-year, prices were down 0.2 per cent.

For three-room and five-room flats, prices fell 0.6 per cent from July, and for four-room flats, prices went down by 1 per cent.

On the other hand, resale prices for executive flats rose by 0.8 per cent.

Resale flats in mature and non-mature estates all saw a dip in prices by 0.4 per cent and 1 per cent respectively in August compared to July.

In terms of volume, there was an almost 20 per cent increase, with 1,879 HDB resale homes sold in August compared to 1,573 transacted units in July.

This is almost 30 per cent more than the 1,447 units resold a year ago.

The data also showed among HDB estates with more than 10 resale transactions, Bishan reported the highest median Transaction Over X-Value of S$15,000, meaning that the majority of buyers in the estate bought units above SRX’s estimated market value.