HDB resale prices remain flat in April - CNA

Resale prices of Housing and Development Board flats remained relatively flat last month, a flash report from the Singapore Real Estate Exchange showed.

SINGAPORE: Resale prices of Housing and Development Board (HDB) flats remained relatively flat last month, a flash report from the Singapore Real Estate Exchange (SRX) showed.

Overall, HDB resale prices dropped slightly by 0.2 per cent in April compared to March.

This decrease is driven by 3-, 4- and 5-room flats which softened by 0.2 per cent, 0.8 per cent and 0.4 per cent respectively.

However, prices of executive flats rose 1.2 per cent.

On a year-on-year basis, last month's prices are down 5 per cent from the same period last year.

Resale volume rose in April with 1,484 units sold -- the highest since July last year when 1,494 units exchanged hands.

Last month's sales volume was a 4.4 per cent increase from March, when 1,422 units were sold.

On a year-on-year basis, April's resale volume is still 14.4 per cent down compared with 1,733 units resold in the same period last year.

Meanwhile, rental volume also fell, with an estimated 1,653 units rented last month, a 3.8 per cent decrease from March's 1,718 units.

On a year-on-year basis, April's rental volume was 5.3 per cent lower than the same month of last year where 1,746 units were rented out.

Rental prices continued to soften, dropping by 1.1 per cent overall in April compared to March.

This decrease is driven by 3- and 4-room flats which softened by 2.9 per cent and 1.8 per cent respectively.

However, rental prices of 5-room and executive flats saw an increase of 0.4 per cent and 3.2 per cent respectively.

On a year-on-year basis, prices in April are down 2.3 per cent from the same period last year.

Overall median Transaction Over X-value (TOX), which measures how much people pay over recent transaction prices, has remained negative at -S$4,000 for the overall HDB market.

This means more than half of all HDB buyers paid below recent transaction prices for their units in April. This is a drop of S$1,000 from March.

Among HDB towns with more than 10 transactions, Queenstown and Jurong East had the highest median TOX at +S$2,500 and +S$2,400 respectively.

This means more than half of the buyers in these towns paid above recent transaction prices.

Out of 26 HDB towns, only five -- Ang Mo Kio, the Central Area, Jurong East, Queenstown and Sembawang -- saw a positive median TOX.

Punggol and Yishun had the lowest median TOX at -S$9,000 and -S$8,000 respectively. 

- CNA/gn

Source: Channel NewsAsia (08 May 2014)

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SINGAPORE: Resale prices of Housing and Development Board (HDB) flats remained relatively flat last month, a flash report from the Singapore Real Estate Exchange (SRX) showed.

Overall, HDB resale prices dropped slightly by 0.2 per cent in April compared to March.

This decrease is driven by 3-, 4- and 5-room flats which softened by 0.2 per cent, 0.8 per cent and 0.4 per cent respectively.

However, prices of executive flats rose 1.2 per cent.

On a year-on-year basis, last month's prices are down 5 per cent from the same period last year.

Resale volume rose in April with 1,484 units sold -- the highest since July last year when 1,494 units exchanged hands.

Last month's sales volume was a 4.4 per cent increase from March, when 1,422 units were sold.

On a year-on-year basis, April's resale volume is still 14.4 per cent down compared with 1,733 units resold in the same period last year.

Meanwhile, rental volume also fell, with an estimated 1,653 units rented last month, a 3.8 per cent decrease from March's 1,718 units.

On a year-on-year basis, April's rental volume was 5.3 per cent lower than the same month of last year where 1,746 units were rented out.

Rental prices continued to soften, dropping by 1.1 per cent overall in April compared to March.

This decrease is driven by 3- and 4-room flats which softened by 2.9 per cent and 1.8 per cent respectively.

However, rental prices of 5-room and executive flats saw an increase of 0.4 per cent and 3.2 per cent respectively.

On a year-on-year basis, prices in April are down 2.3 per cent from the same period last year.

Overall median Transaction Over X-value (TOX), which measures how much people pay over recent transaction prices, has remained negative at -S$4,000 for the overall HDB market.

This means more than half of all HDB buyers paid below recent transaction prices for their units in April. This is a drop of S$1,000 from March.

Among HDB towns with more than 10 transactions, Queenstown and Jurong East had the highest median TOX at +S$2,500 and +S$2,400 respectively.

This means more than half of the buyers in these towns paid above recent transaction prices.

Out of 26 HDB towns, only five -- Ang Mo Kio, the Central Area, Jurong East, Queenstown and Sembawang -- saw a positive median TOX.

Punggol and Yishun had the lowest median TOX at -S$9,000 and -S$8,000 respectively. 

- CNA/gn

Source: Channel NewsAsia (08 May 2014)