HDB resale flat prices continue to fall

SINGAPORE – Prices of Housing and Development Board resale flats continued to fall, with the latest report from SRX Property showing that there was a 0.8 per cent drop in prices last month compared to February.

The decline was 0.8 per cent in non-mature estates and 0.9 per cent in mature estates. Compared to March last year, prices are down 6.6 per cent, said SRX Property today (April 9).

Meanwhile, transaction volume rose 17.5 per cent, from 1,148 flats in February to 1,349 flats last month.

Flats continued to be sold below their estimated market value, with the median Transaction Over X-Value – SRX’s measure of whether people are underpaying or overpaying for properties – at negative S$3,000. This however is improved from the negative S$4,000 seen in February.

Resale flats in areas like Bukit Merah and Serangoon were sold above their estimated market value while flats in Hougang, Yishun and Choa Chu Kang below their estimated market value.