Resale prices of non-landed private
homes were flat in February from the previous month, while resale volume
remained low, according to flash estimates from SRX Property on Tuesday (Mar
10).
Year-on-year, resale prices dropped
3.2% from February 2014. Compared with the recent peak in January 2014, prices
have declined 5.8%, SRX said.
Resale prices of private homes in the
Core Central Region and the Outside of Central Region rose 1.5% and 2.0% month-on-month,
respectively. In comparison, prices in the Rest of Central Region fell 0.8%.
Resale volume remained low, with 321 units
resold in February, a 6.7% decrease from January, which saw 344 units resold.
Year-on-year, resale volume was 36.6% higher compared with the 235 units
transacted in February 2014.
The overall median Transaction Over
X-Value (TOX), which measures whether people are overpaying or underpaying the
SRX Property X-Value estimated market value, remained at -$10,000 last month,
the same as in January.
For districts with more than 10 resale
transactions, district 10 (Bukit Timah, Holland Road , Tanglin) had the highest
median TOX of $27,000. This means that majority of the buyers in this district
has purchased units above the computer-generated market value, said SRX.
Conversely, district 15 (Katong, Joo
Chiat, Amber Road )
had the lowest median TOX with -$31,000, followed by district 23 (Bukit
Panjang, Choa Chu Kang) with -$20,000.
Source:
CNA
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