Tag Archives: SRX

HDB resale prices at 40month low: SRX

The resale prices of Housing and Development Board (HDB) flats fell 0.8 per cent in November, hitting a 40-month low since August 2011, the Singapore Real Estate Exchange (SRX) said on Thursday (Dec 4).

Prices fell by 0.8 per cent for three- room HDB flats, 1.2 per cent for four-room flats, 0.2 per cent for five-room flats, and 2.2 per cent for executive flats.

Overall, prices have declined 6.3 per cent since the same period a year ago and 9.8 per cent since the peak in April 2013, SRX said.

Mr Eugene Lim, key executive officer of ERA Realty, said: “The continued reduction in HDB resale prices is expected because of the measures that have been put in place. A majority of the buyers are impacted by the mortgage servicing ratio of 30 per cent and this basically restricts their ability to take a larger loan, which therefore impacts those who are buying higher price quantum flats. This has led to a reduction in prices that are being offered to the seller, so that has brought down prices.”

The Government is offering 22,400 Build-To-Order flats in 2014. Analysts said the increased supply contributes to the reduction in resale flat prices.

Transaction volume fell as well. A total of 1,350 HDB resale flats were sold last month, a 13.1 per cent decrease from the 1,553 transacted units in October. Compared with a year ago, resale volume was up 11.4 per cent, SRX said.

TOX REMAINS NEGATIVE

Overall median Transaction Over X-Value (TOX), which measures whether people are overpaying or underpaying the SRX estimated market value, remained negative in November at -S$3,000.

For HDB towns with more than 10 resale transactions last month, Geylang reported the highest median TOX of S$8,000, followed by Queenstown with S$7,500 and Toa Payoh with S$3,500.

Among HDB towns with more than 10 transactions, the lowest median TOX were in Bukit Panjang, Pasir Ris and Yishun, at -S$10,000, -S$6,500 and -S$6,500, respectively.

PropNex CEO Mohamed Ismail said prices will continue to fall. “I am expecting the HDB prices not to increase, but neither can you expect a sudden drop of 10 per cent or so, it is highly unlikely. What we are going to expect in the next six months here is a further marginal drop of about 2 per cent.”

He added that flats in mature estates will still command higher prices. “Looking at the index – which is islandwide – may not be applicable for some mature estates, where the demand is strong. People have the holding power, and sometimes they will go against the norm and because after all, it’s been a willing buyer and willing seller system.”

Prices for Singapore private flats plateau for fourth consecutive month – SRX

http://www.srx.com.sg/srx/index.jsp?link=newsArticles&id=b2g5w5k2y

Observations:

  1. Prices remained flat, posting a slight uptick of 0.4% on low volume. Non-landed Private Residential Resale prices increased 0.4% in October compared to September 2014.  Prices in RCR and OCR drove the overall index up with both increasing by 0.6% while prices in CCR dropped by 0.3%.

According to the SRX Non-landed Private Residential Price Index:

  • Prices hovered around 168.8 and 169.8 in the last 4 months since Jul 2014;
  • Year-on-year, prices have dropped 4.5% from October 2013;·
  • Prices have declined 5.2% since the recent peak in Jan 2014.

  1. Resale volume slipped by 2.2%. According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 451 Non-landed Private Residential units were resold in October, a 2.2% decrease from 461 transacted units in September.
  • Year-on-year, resale volume was 4.7% down compared with 473 units resold in October 2013;
  • Resale volume is down 78% compared to its peak of 2,050 units resold in April 2010.
  1. Overall median Transaction Over X-Value (T-O-X) remains negative. According to SRX Property, Non-landed Private Residential prices continue to face downward pressure and negative market sentiment.  The median T-O-X for Non-landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.
  • The median T-O-X was NEGATIVE $4,000 in October 2014;
  • The median T-O-X has been negative since Oct 2013.

  1. Districts 9, 10 and 25 posted high median T-O-X. For districts with more than 10 resale transactions in October 2014, district 10 had the highest median TOX of $30,000, followed by $22,000 in district 9 and $15,000 in district 25.

This means that majority of the buyers in these districts has purchased units above the computer-generated market value.

  1. Among relatively active districts, District 14 posts the most Negative median T-O-X. Among districts  with more than 10 resale transactions, the lowest median T-O-X was in district 14 with TOX of NEGATIVE $41,000, followed by NEGATIVE $40,000 in district 12, and NEGATIVE $31,000 at district 11.

This means that majority of the buyers in these districts has purchased units below the computer-generated market value.

Private home resale prices down slightly in September: SRX

Resale prices of non-landed private homes dipped marginally in September by 0.3 per cent month-on-month, according to flash estimates from SRX Property on Tuesday (Oct 14).

When compared with September 2013, resale prices of non-landed private homes have dropped 4.6 per cent. Compared with the recent peak in January 2014, prices have declined 5.6 per cent, SRX said.

Resale prices of private homes in the Outside of Central Region dropped the most last month, falling 2.1 per cent compared with August. In comparison, prices in the Core Central Region and Rest of Central Region rose by 0.9 per cent and 2.9 per cent, respectively.

Resale volume rose sharply, with an estimated 468 non-landed private homes resold in September, up 15.3 per cent from the 406 transacted units in August.

TOX IMPROVES, BUT REMAINS NEGATIVE

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 -S$2,000 last month, up from -S$10,000 in August.

For districts with more than 10 resale transactions, districts 10, 15 and 16 saw a positive median TOX, with district 15 posting the highest median TOX of S$65,000, followed by district 16 with S$18,000 and district 10 with S$10,000.

Conversely, district 9, 11 and 12 had the lowest median TOX with -S$37,000, -S$35,000 and -S$23,000, respectively.

RENTAL VOLUME, PRICES DOWN

As for rental transactions, the number of non-landed private homes rented out last month was 3,171 – a 14 per cent decline from August. Year-on-year, rental volume improved by 8.7 per cent from the 2,916 units rented in September 2013.

However, rental prices continued declining, slipping 0.2 per cent from the previous month – the eighth consecutive month of decline.

The decline was greatest in the Outside of Central Region at 0.9 per cent and the Rest of Central Region at 0.6 per cent. Units in the Core Central Region saw a rent increase of 0.3 per cent, SRX said.

Resale Prices for private homes rose month-on-month, but drop year-on-year

http://www.channelnewsasia.com/news/singapore/private-home-resale/1351262.html

Resale prices of non-landed private homes in August rose 0.4 per cent month-on-month, according to flash estimates from the Singapore Real Estate Exchange (SRX) on Monday (Sep 8).

Still, when compared with August 2013, resale prices of non-landed private homes have dropped 5 per cent. Compared with the recent peak in January 2014, prices have declined 5.3 per cent, SRX said.

Resale prices of private homes in the Core Central Region rose the most last month, rising 4.8 per cent compared with July. In the Rest of Central Region, prices were up 1.5 per cent. In comparison, resale prices in Outside of Central Region fell 1.1 per cent.

Resale volume remained flat, with 418 non-landed private homes resold in August, similar to the 417 transacted units in July.

 

Service to gauge rental value of Singapore homes

Property agents, landlords and tenants in Singapore now have a new tool to help them estimate rental prices. Singapore Real Estate Exchange (SRX), an information exchange on property transactions and market pricing, on Wednesday launched Rental X-Value – a computer-generated estimate of home rental values. The service, which can be accessed for free on the SRX website, estimates rental prices of both public and private homes, taking into consideration factors such as location, floor level and proximity to MRT stations. “It helps to improve transparency and efficiency in the Singapore residential rental market,” said Mr Jeremy Lee, co-founder and chief technology officer of SRX, which was formed by 12 real estate agencies. –

See more at: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/online-tool-launched-help-estimate-property-rental-value#sthash.MHvFmcIB.dpuf