Resale prices of Housing Board flats fell 0.8 per cent in April from March, according to flash data released by real estate portal SRX Property on Thursday (May 3).
Prices in April have dipped 2.4 per cent from the same month last year, and are down 13.5 per cent since the peak in April 2013.
There was also a 2.5 per cent drop in the number of resale flats sold last month – from 1,897 transacted in March to 1,850 units.
Resale volume was down 49.3 per cent compared to the peak of 3,649 units sold in May 2010.
On a month-on-month basis, last month’s resale prices of four-room flats, five-room flats, and executive flats fell by 0.3 per cent, 0.4 per cent, 0.5 per cent and 1.2 per cent respectively.
In April, the overall median Transaction Over X-Value (TOX) was negative $1,000, an increase of $1,000 from the previous month.
TOX measures whether buyers are overpaying or underpaying compared with SRX Property’s computer-generated market value.
Flats in Toa Payoh and Clementi looked to be in demand, with a median TOX of $11,000 and $10,500 respectively.
In contrast, Choa Chu Kang and Bukit Merah posted the most negative median TOX of $9,000, followed by Serangoon at $8,000.
Source: Straits Times