SINGAPORE - Prices of Housing and Development Board (HDB) resale flats in both mature and non-mature estates fell by half a per cent in January, compared to a month ago.
This marks the first decline in the monthly index in seven months, according to the latest HDB resale flash report by SRX Property released on Thursday (Feb 4).
Resale prices for three- and four-room flats fell by 0.5 per cent and 1 per cent respectively, whereas prices for five-room and executive flats went up by 0.2 per cent and 1.4 per cent.
Year-on-year, prices of resale flats have fallen 1.3 per cent from Jan 2015. They are also 11.1 per cent lower than the peak in April 2013.
According to SRX Property, 1,286 resale flats were sold in January, 8.6 per cent less than the 1,407 units transacted in December last year.
Resale volume is down 64.8 per cent from its peak of 3,649 units in May 2010.
But, resale volume has increased by 2.6 per cent compared to the 1,254 units resold in Jan 2015.
SRX Property also reported that the median X-value for resale flats last month was negative $1,000, meaning that the median price of units sold last month was $1,000 under their market value.
The X-value is derived from SRX's computer-generated appraisal of home market values.
SRX is an information exchange formed by the leading real estate agencies in Singapore. Its purpose is to disseminate market pricing information and facilitate property transactions. Find out more at www.srx.com.sg.