Resale Price Index
What it is
This is an index that shows the overall price movement of resale HDB flats, with the fourth quarter of 1998 as the base period when the index started at 100.
The index is calculated using resale prices by date of registration.
The example below shows that, in the second quarter, HDB’s index grew by about 3 per cent over the previous quarter - the strongest growth in almost a decade.
This shows a general increase in prices across most flat types and towns.
Why it is important
The index reflects price appreciation across time.
It allows both homebuyers and owners to track overall price movements of the market, and reflects the general sentiment of the HDB resale market.
Median Resale Prices by Town and Flat Type for Resale Cases Registered in 2nd Quarter 2007
What it is
Median prices are provided for resale transactions of a particular flat type in a given housing estate.
What the median price tells you is that half of the units were sold above that value, and the other half below that value.
Instead of the median price, HDB used to provide the average price each quarter, but this was misleading as a single large transaction can distort the overall picture, HDB said recently.
Why it is important
These figures give a more accurate picture of what the typical price of a flat is in reality, in contrast to much-publicised ‘headline’ prices for flats with exceptional conditions such as good views and location - for instance, the five-room flat at Kim Tian Place that sold for $720,000 in June.
Buyers can use this figure as a gauge of average prices, and sellers can manage their expectations, using this to decide on realistic asking prices.
Cash-Over-Valuation is the difference between the Resale Price and Market Value of the flat. refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat.
What it is
Cash-over-valuation (COV)
What the median COV indicates is that half of the units were sold for a COV above that value and half below. The latest HDB data for the second quarter shows 30 per cent of all resale cases were transacted at or below valuation, with an overall median COV of about $7,000.
Why it is important
Again, these figures give a more accurate indication of the premium that buyers are paying for HDB flats. It disregards the high COVs paid for flats in exceptional circumstances.
Buyers can use this figure as a gauge when buying, and sellers can use this as a starting point in deciding their asking price.
Number of Resale Applications Registered by Flat Type
What it is
This figure gives an indication of the volume of flats transacted, according to flat type.
Transactions grew 38 per cent from 6,300 last quarter to 8,700 this quarter.
Why it is important
It shows how hot the HDB resale market is, and what sort of flats are available to meet the location and flat type preferences of flat buyers.
It also reflects general market sentiment.
Individual resale transactions
What it is
This search engine enables members of the public to find out the transacted prices of individual flats by block and flat type.
Detailed enquiries can be made at http://www.hdb.gov.sg/ bb33/ispm051p.nsf.
Why it is important
Individuals can get specific information relevant to their own situations.
Click Here For Individual Transacted Prices :-
Individual Resale Transactions - http://www.hdb.gov.sg/bb33/ispm051p.nsf
More Details, Please visit Housing Development Board Website at http://www.hdb.gov.sg
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