We have heard of the first transaction on 21 September and the second on 6 October.
Now, the third transaction took place at 513 West Coast Road. The 2-Storey 3-room HDB unit was transacted at $355,000 when the market X-Value is $265,000. This translates to a high Transaction-Over-Xvalue (TOX) of $90,000 or 34.0%
X-Value™ is the starting point for pricing a home. It is a computer-generated estimate of the home's value based on best practice methodologies including Comparable Market Analysis (CMA), hedonic regression, and SRX™ (Singapore Real Estate) Property Price Indices.
To find out the market X-Value of your home, check out srx.com.sg/xvalue-pricing
Transaction-Over-Xvalue measures whether buyers are buyer above or below the market X-Value
What is the similarity among these SERS transactions?
The TOX of these three transactions are above average and this means that the price paid by the buyers are higher than the market X-Value.
The Selective En bloc Redevelopment Scheme (SERS) renews our older housing estates. If you are a SERS resident, you will get the opportunity to move to a new home with a new 99-year lease, and continue living close to your current neighbours. SERS flat owners will also be given a package comprising compensation and rehousing benefits.
Why did the buyers pay a premium price for the SERS units?
Blocks 513 to 520 West Coast Road, comprising 994 flats, have been selected for the SERS Scheme, with residents to be offered new replacement units at Clementi Avenue 1 and West Coast Link,
What can you look out for in Clementi Avenue 1 and West Coast Link?
The relocated residents of the SERS units get to enjoy new facilities such as sky terraces, roof garden at multi-storey carpark, nearby malls as well as prestigious schools such as National University of Singapore (NUS).
Market X-Value
To find out the market X-Value of your home, check out srx.com.sg/xvalue-pricing.
HDB Listings
You might be interested in listings nearby West Coast Road