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Resale prices of Singapore's public housing units rise 0.2%

Staff Writer |
Resale prices of Singapore's public housing units built by Housing and Development Board (HDB) rose 0.2 percent in November compared with the previous month, Singapore Real Estate Exchange (SRX Property) said.

SRX Property said prices for all HDB flats except executive units were up. Resale prices of three-room HDB, four-room HDB and five-room HDB increased by 0.2 percent, 0.2 percent and 0.3 percent respectively. Resale prices of HDB Executive Flats, however, fell by 0.3 percent.

Overall, resale prices have declined 0.7 percent from November 2015 and 11.3 percent from the peak in April 2013, SRX Property added.

A total of 1,585 HDB resale flats were sold in November, which is a 5.3 percent decrease from 1,673 transacted units in October 2016.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property's estimated market value, was -2,000 Singapore dollars (-1411 U.S. dollars) in November, down from zero from the previous month.

About 80 percent of the residents in Singapore live in high-rise flats built by HDB and sold to local households under the basic principle of one unit per household.

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