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SRX Research

 A. Non-Landed Private Residential Rental Market

1. Private rents increase by 0.5% in June. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents increased by 0.5% in June 2017 compared to May 2017. Non-Landed Private Residential units rents in RCR and OCR increased by 1.4% and 0.5% respectively, while that in CCR decreased by 0.4%.

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According to SRX Property Price Index for Non-landed Private Rentals:

  • Year-on-year, rents in June 2017 were down by 3.2% from June 2016. In individual sectors, CCR, RCR and OCR posted 3.0%, 2.7% and 3.9% year-on-year decrease in price, respectively.
  • Rents in June 2017 were 19.1% down compared to its peak in January 2013.
  • Price index is down 0.3% on year-to-date basis from January 2017.
  • Price change was revised from -0.8% to -0.6% in May 2017.

2. Rental volume decreases by 8.8%. According to SRX Property, an estimated 4,250 Non-landed Private Residential units were rented in June 2017. This represented an 8.8% decrease from 4,661 units rented in May 2017.

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  • Year-on-year, rental volume in June 2017 was 7.3% lower than 4,587 units rented in June 2016.

B. HDB Rental Market

1. HDB rents decrease by 0.6%. 
According to SRX Property Price Index for HDB Rentals, rents decreased by 0.6% from May 2017 to June 2017. HDB 3 Rooms and HDB 5 Rooms decreased by 1.1% and 0.5% respectively, while HDB 4 Rooms and HDB Executive remained unchanged.

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According to SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in June 2017 were down by 4.0% from June 2016.
  • Rents in June 2017 were down 13.5% compared to its peak in August 2013.
  • Year-to-date, rental price index has declined by 1.0% from January 2017.
  • Price change was revised from 0.7% to 0.8% in May 2017. 
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According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  • Rents in Mature Estate and Non-mature Estates both decreased by 0.6%.
  • Year-on-year, rents of Mature Estates in June 2017 slipped 3.5% from June 2016.
  • Year-on-year, rents of Non-mature Estates in June 2017 dropped 4.5% from June 2016.
2. HDB rental volume decreases by 5.5%. According to SRX Property, an estimated 1,704 HDB flats were rented in June 2017.  This represented an 5.5% decrease from 1,804 units rented in May 2017.

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  • Year-on-year, rental volume in June 2017 decreased by 11.5% from June 2016.

 

1. Non-landed Private Residential Resale Prices increased 0.9% in June 2017. Non-landed Private Residential Resale prices increased 0.9% in June 2017 compared to May 2017. In individual sectors, both CCR and OCR recorded a price increase of 1.3% and 1.1% respectively, while RCR price index has remained unchanged at 0.0%.

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

  • Year-on-year, prices in June 2017 increased by 2.2% from June 2016. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 3.7%, 3.0% and 0.8% respectively.
  • June 2017 prices were down by 4.4% from the peak in January 2014.
  • Year-to-date, prices increase by 2.9% in comparison to January 2017.
  • Price change in May 2017 was revised from 0.4% to 0.5%.

2. Resale volume decreases by 12.5%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,065 Non-landed Private Residential units were resold in June 2017. This is a 12.5% decrease compared to 1,217 units resold in May 2017.

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  • Year-on-year, resale volume in June 2017 was 51.1% higher compared to 705 units resold in June 2016;
  • Resale volume was down by 48.0% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is $1,000 in June 2017. 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.

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  •  The median T-O-X in June 2017 is $1,000. This is a $1,000 decrease compared to $2,000 in May 2017.

4. District 11 post highest median T-O-X. For districts with more than 10 resale transactions in June 2017, District 11 (Newton and Novena) posted the highest median T-O-X at POSITIVE $40,000.

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

 

5. Among relatively active districts, District 4 posts the most negative median T-O-X. District 4 (Harbourfront and Telok Blangah) posted a T-O-X of NEGATIVE $120,000.

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

 

1. HDB resale prices decrease in June 2017. There was a decrease of 0.1% in HDB Resale prices in June 2017 compared to that of May 2017. The resale prices of HDB Executive increased by 1.7%, while HDB 3 Rooms , HDB 4 Rooms and  HDB 5 Rooms decreased by 0.2%, 0.3% and 1.5% respectively.

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According to the SRX Property Price Index for HDB Resale:
  • Year-on-year, prices have decreased by 0.2% from June 2016;
  • Prices have declined by 11.7% since the peak in April 2013;
  • There is no price revision to the -0.1% change in May 2017.
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According to the SRX Property Price Sub-Indices for HDB Resale:

  • In June 2017, HDB resale prices in mature estates increased by 0.8%, while non-mature estates decreased by 0.9%;
  • Year-on-year, prices in mature estates have increased by 1.7% from June 2016;
  • Year-on-year, prices in non-mature estates have decreased by 1.7% from June 2016;

2. Resale volume decreases in June 2017. According to HDB resale data compiled by SRX Property, 1,753 HDB resale flats were sold in June 2017, a 11.6% decrease from 1,984 transacted units in May 2017.

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  • Year-on-year, resale volume decreased by 5.0% compared to 1,846 units resold in June 2016.
  • Resale volume was down by 52.0% compared to its peak of 3,649 units in May 2010.

3. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $1,000 in June 2017. According to SRX Property, the median T-O-X for HDB was NEGATIVE $1,000 in June 2017The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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  • Overall Median T-O-X was NEGATIVE $1,000 in June 2017, increased by $1,000 compared to the figure in May 2017;
  • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in June 2017 were NEGATIVE $2,000, ZERO, NEGATIVE $4,000 and NEGATIVE $2,000 respectively.
4. Bukit Merah posts the highest median T-O-X. For HDB towns having more than 10 resale transactions with T-O-X in June 2017, Bukit Merah reported the highest median TOX of POSITIVE $6,000 followed by POSITIVE $4,000 in Bukit Batok and Sengkang.

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

5. Among relatively active towns, Toa Payoh post the most negative median T-O-X. Among HDB towns having more than 10 resale transactions with T-O-X in June 2017, the lowest median T-O-X was in Toa Payoh at NEGATIVE $17,000, followed by Punggol at NEGATIVE $8,000.

This means that majority of the buyers in these towns have purchased units below the computer generated market value.


 A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.8% in May. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.8% in May 2017 compared to April 2017. Non-Landed Private Residential units rents in CCR, RCR and OCR decreased by 1.8%, 0.5% and 0.4% respectively.

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According to SRX Property Price Index for Non-landed Private Rentals:

  • Year-on-year, rents in May 2017 were down by 3.9% from May 2016. In individual sectors, CCR, RCR and OCR posted 3.7%, 3.2% and 4.8% year-on-year decrease in price, respectively.
  • Rents in May 2017 were 19.7% down compared to its peak in January 2013.
  • Price index is down 1.1% on year-to-date basis from January 2017.
  • Price change was revised from 0.0% to 0.1% in April 2017.

2. Rental volume increases by 12.5%. According to SRX Property, an estimated 4,650 Non-landed Private Residential units were rented in May 2017. This represented a 12.5% increase from 4,134 units rented in April 2017.

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  • Year-on-year, rental volume in May 2017 was 6.1% higher than 4,381 units rented in May 2016.

B. HDB Rental Market

1. HDB rents increase by 0.7%. 
According to SRX Property Price Index for HDB Rentals, rents increased by 0.7% from April 2017 to May 2017. HDB 3 Rooms, HDB 4 Rooms, HDB 5 Rooms and HDB Executive increased by 1.5%, 0.6%, 0.2% and 0.2% respectively.

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According to SRX Property Price Index for HDB Rentals:
  • Year-on-year, rents in May 2017 were down by 3.7% from May 2016.
  • Rents in May 2017 were down 13.0% compared to its peak in August 2013.
  • Year-to-date, rental price index has declined by 0.4% from January 2017.
  • Price change was revised from 0.1% to 0% in April 2017. 
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According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  • Rents in Mature Estate and Non-mature Estates increased by 1.2% and 0.1% respectively.
  • Year-on-year, rents of Mature Estates in May 2017 slipped 2.8% from May 2016.
  • Year-on-year, rents of Non-mature Estates in May 2017 dropped 4.5% from May 2016.
2. HDB rental volume remains almost unchanged. According to SRX Property, an estimated 1,873 HDB flats were rented in May 2017, close to the 1,872 units rented in April 2017.

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  • Year-on-year, rental volume in May 2017 decreased by 3.5% from May 2016.
1. Non-landed Private Residential Resale Prices increased 0.4% in May 2017. Non-landed Private Residential Resale prices increased 0.4% in May 2017 compared to April 2017. In individual sectors, both CCR and RCR recorded a price increase of 1.1%, while OCR recorded a price decrease by 0.4%.

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

  • Year-on-year, prices in May 2017 increased by 1.5% from May 2016. In individual sectors, CCR, RCR recorded a year-on-year price increase of 3.5% and 2.3% respectively, while OCR recorded a year-on-year price decrease of 0.2%.
  • May 2017 prices were down by 5.2% from the recent peak in January 2014.
  • Year-to-date, prices increase by 2.1% in comparison to January 2017.
  • Price change in April 2017 was revised from 0.0% to -0.2%.

2. Resale volume increases by 17.4%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,235 Non-landed Private Residential units were resold in May 2017. This is a 17.4% increase compared to 1,052 units resold in April 2017.

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  • Year-on-year, resale volume in May 2017 was 57.7% higher compared to 783 units resold in May 2016;
  • Resale volume was down by 39.8% compared to its peak of 2,050 units resold in April 2010.

3. Overall median Transaction Over X-Value (TOX) is $2,000 in May 2017. 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.

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  • The median T-O-X in May 2017 is $2,000. This is a $3,000 decrease compared to $5,000 in April 2017.

 
4. Districts 4 post highest median T-O-X. For districts with more than 10 resale transactions in May 2017, District 4 (Harbourfront and Telok Blangah) posted the highest median T-O-X at POSITIVE $60,000.

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

5. Among relatively active districts, District 17 posts the most negative median T-O-X. District 17 (Changi) posted a T-O-X of NEGATIVE $21,000.

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



 
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