HDB resale prices down 0.3% in January, 0.1% drop from same month last year: SRX Property

A view of public and private housing near Toa Payoh Lorong 7.
A view of public and private housing near Toa Payoh Lorong 7.PHOTO: ST FILE

SINGAPORE - The resale prices of HDB flats in January fell 0.3 per cent from December last year.

Prices for three-room and four-room flats decreased by 0.6 per cent and 0.5 per cent respectively, while five-room and executive units increased by 0.4 per cent and 0.9 per cent respectively, according to data from SRX Property.

HDB resale prices in mature estates fell by 0.7%, while non-mature estates remained the same.

The volume of resale units has also decreased, with 1,174 flats sold in January, down 13.9 per cent from 1,364 units the previous month.

The median Transaction Over X-Value (T-O-X) measures whether people are over- or underpaying the estimated market value of the flats.

Overall, people paid below the estimated market value by $3,000 in January.

Among HDB towns with over 10 resale transactions, Geylang reported the highest prices paid over the market value, by $5,500, followed by $4,000 in Tampines.

Meanwhile, Punggol recorded the lowest prices below market value, by $8,500, followed by Yishun and Toa Payoh at $8,000.

The volume of resale units had peaked at 3,649 units in May 2010.