Tuesday, January 3, 2012

Latest HDB Resale Flat Prices

What are the latest HDB resale flat transaction prices in Singapore? What is the price of a resale HDB flat in Singapore? To find answers to these questions you can google the web but you will most probably end up with the asking prices. What really matters are the property transaction prices and there is a place where you can get some general information on these prices.

As we have written back in 2011, Singapore Urban Redevelopment Authority (URA) has a e-Service named "Private Residential Property Transactions with Caveats Lodged" where you can check the latest Singapore condo, landed property transaction prices. Housing Development Board (HDB) also provides a similar e-service where you can check past 1-year resale transacted prices. The data provided is based on approved resale applications and is updated on the 1st and 16th of each month. Transacted prices are better indicators for you to estimate the price you will pay since asking prices may have a large greed premium. This e-service enables potential resale flat buyers and sellers to make more informed decisions, "taking into account the prevailing trends in the HDB resale market."

All you need to do is to enter the flat type (1 room, 2 room, 3 room, 4 room, 5 room, Executive, HDUC or Multi Generation), HDB Town or Street Name. You can also filter search results by block number and/or transaction prices as well as resale approval date. The results show the floor of the transacted flat, age of the building, resale price and transaction approval date.

These prices also include Cash Over Valuation (COV):

"The price information shown in this e-service is based on the actual transacted prices declared by the buyers and sellers. For cases where the resale flats were transacted above valuations, the resale prices would include the cash amount above valuations. Please note that there could also be resale flats that were transacted at or below market valuations."
Source : HDB 
Actually HDB recently went one step further and started to provide HDB Centralised Map Services which provides resale transacted prices within 500 metres from any HDB Block or DBSS Site/Project and resale transacted prices for all flat types in each block. The map application also displays other information on the block such as EIP/SPR Quota, Upgrading Programmes and Distance Enquiry for CPF Housing Grant.

HDB Centralized Map Services displaying resale transaction prices within 500 meter of selected block by flat type.

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