Resale prices of Singapore's public housing units fall 0.1 percent in April

Resale prices of Singapore's public housing units built by Housing and Development Board (HDB) decrease 0.1 percent in April compared with the previous month, Singapore Real Estate Exchange (SRX Property) said on Thursday.

SRX Property said resale prices of 3-room HDB and executive flats increased by 0.6 percent and 0.1 percent respectively, while resale prices of 4-room HDB remained the same, and 5-room HDB decreased by 0.9 percent.

Overall, resale prices have declined 0.2 percent from April 2015 and 11.1 percent from the peak in April 2013, SRX Property added.

A total of 1,828 HDB resale flats were sold in April, which is a 10.3 percent increase from 1,657 transacted units in March 2016. SRX Property said the volume represents a record high since the cooling measures were introduced in 2013.

The overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying SRX Property's estimated market value, was zero in April.

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.