HDB resale transactions in Bukit Timah hit over market value

The median transaction over x-value hit $53,000.

Overall HDB resale transactions in Singapore were paid for under the market value as the median transaction over x-value (T-O-X) hit NEGATIVE 1,000 in October, the Singapore Real Exchange (SRX) revealed.

According to flash data, the median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

Bukit Timah had the highest median T-O-X amongst HDB towns for the month with POSITIVE $53,000, followed by POSITIVE $5,500 in Bukit Merah.

This means that majority of the buyers in these towns have purchased units above the computer-generated market value, SRX said.

Meanwhile, Bishan posted the most negative median T-O-X of NEGATIVE $22,000, followed by NEGATIVE $9,000 in Marine Parade.

The overall median T-O-X increased by $1,000 compared to the figure in September.

Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in October 2017 were NEGATIVE $1,000, NEGATIVE $2,000, POSITIVE $2,000 and ZERO, respectively.