SINGAPORE - Resale prices for Housing Board flats fell 0.8 per cent in March, while 17.5 per cent more resale flats were sold, according to SRX Property's flash report on Thursday.
The decline in resale prices was driven by lower prices for 3-, 4-, and 5-room flats. Executive flats were the exception, with prices increasing 1.0 per cent from February.
Year-on-year, overall HDB resale prices fell 6.6 per cent.
Despite this, resale volume improved from Feb 2015. According to HDB resale data, 1,349 HDB resale flats were sold in March this year, 17.5 per cent more than the 1,148 units sold in February 2015.
When compared year-on-year, resale volume declined 5 per cent.
Compared to the peak of 3,649 units in May 2010, resale volume in March was down 63.0 per cent.
SRX Property estimated that buyers are still underpaying for resale flats.
According to its own calculations, SRX Property estimates that resale buyers paid at least $3,000 less for their flats in March 2015. The figure was higher at $4,000 in Feb.
Source: Asia (09 Apr 2015)