HDB median resale price hits $455,000

It's a record-breaking cost.

Accoriding to SRX Residential Property Flash Report, in the HDB resale market, overall cash-over-valuation (COV) continues its uptrend to reach $34,000 in the first two months into 4Q.

Here's more from SRX:

This is $2,000 shy of the 5-year historical high of $36,000 COV attained in 2011Q3 since tracking began in 2007.

On a month-to-month basis, overall COV increased from $33,000 in Oct to $35,000 in Nov.

The highest COV with at least 10 contracts signed among all property types in all towns is for HDB 4-room flats in Queenstown. Median COV in the first 2 months of Q4 is $76,250.

The higher COV helped to push overall HDB median resale price to a new historical high of $455,000. This represents a 1.1% increase from 3Q's $450,000.

Overall HDB median rents remained unchanged at $2,400.