SINGAPORE - Resale prices for Housing Board flats went up for the first time this year, according to flash figures released by the Singapore Real Estate Exchange (SRX) on Thursday.
Prices inched up by 0.1 per cent in October from September, ending eight consecutive months of a downward slide.
Last month, however, executive flat prices went up by 0.8 per cent, while HDB four-room flats levelled their prices in September. Prices for three- and five-room flats continued to dip by 0.4 percent and 0.1 per cent respectively.
But compared to October last year, the resale index was still down by 6.1 per cent.
Resale volume was also up, the highest this year, as buyers moved in to take advantage of low prices.
According to HDB data compiled by SRX Property, 1,557 resale units were sold in October, up 5.7 per cent from the 1,469 flats sold in September. This was also 11.5 per cent higher than a year ago.
For the first time in 19 months, HDB buyers also paid more than SRX's estimated market value for their flats. In October, buyers paid a median of $1,000 more than SRX's X-Value measure of a flat's market value.
