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Resale prices fallen by 0.2 per cent

Resale prices fallen by 0.2 per cent

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SINGAPORE — Resale prices of Housing and Development Board (HDB) flats dipped 0.3 per cent in December from a month ago, led by falls in bigger units, flash estimates from SRX Property showed on Thursday.
In terms of volume, there was a 13.9 per cent drop.  Upcoming new launch condo include The Tapestry , The Jovell, Park Colonial, The Opus, Amber 45,  Jui Residences, 33 Residences  , 8 Hullet, 120 Grange, The Biltmore, Muse @ Newton, Harbour View Gardens , Daintree Residence,  Parkwood Residences , The Verandah Residences, Sea Pavilion Residences,  Parc Botannia, Sengkang Central condo while existing ones include Rezi 35, Carpmael Thirty Eight , Fivenine, Sixteen35 Residences and Kandis Residence  Kingsford Waterbay, Seaside Residences and Grandeur Park Residences.
Last month saw resale prices of three-room and four-room flats fall by 0.1 per cent and 0.2 per cent respectively, compared to November. Prices for five-room and executive flats decreased by 0.9 per cent and 1.0 per cent respectively.
SRX figures showed that year-on-year, resale prices had fallen by 0.2 per cent from December 2015, and by 10.9 per cent from the peak of the SRX resale index in April 2013.
A total of 1,364 resale flats were sold last month, from 1,585 units in November. Year-on-year, resale volume of HDB flats was down by 3.9 per cent, given that 1,420 units were resold in December 2015. Compared to its peak of 3,649 units in May 2010, resale volume last month was down by 62.6 per cent.
According to the flash estimates, the overall median Transaction-Over-X-Value (TOX) — a measure of how much a buyer is underpaying or overpaying for a unit — last month was zero, compared to negative S$2,000 in November.
The median TOX for HDB three-room, four-room, five-room and executive flats last month were negative S$1,500, zero, negative S$1,000 and negative S$1,000 respectively.
For HDB towns with more than 10 resale transactions, Toa Payoh reported the highest median TOX of S$11,000, followed by S$10,000 in Kallang/Whampoa, indicating that the majority of the buyers in these towns bought their resale flats above the market value.
On the other hand, Pasir Ris reported the lowest median TOX at negative S$12,000, followed by Jurong East at negative S$9,500, which means that many buyers in these areas bought their units below the market value.
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