Housing and Development Board (HDB) resale flats' prices rose 3.9 percent to reach a new high in the last quarter of 2009. The Resale Price Index stood at a record 150.8. Prices have risen spectacularly since the second quarter of 2007 in a market even more buoyant than in 1995-96. See this HDB graphic, which shows the prices flying up, up and away like a kite!
There were 37,205 resale transactions in 2009. With Singapore's average household size being 3.5 (persons, yes, according to Statistics Singapore), that's equivalent to moving almost the entire resident population of Pasir Ris (132,100, according to Singapore Statistics' Population Trends 2009).
And sellers were making a nifty profit. Ninety-three per cent of the flats were sold above valuation in the last quarter. The median cash-over-valuation was 24,000 Singapore dollars (about $17,000) in the last quarter but it has come down to 22,000 Singapore dollars this month, according to the HDB. You can download the HDB chart showing the median prices of resale flats in various townships here. And here you can download the HDB chart showing the median cash-over-valuations.
Here are some charts I created myself, showing first the median prices of three-room and bigger flats in HDB townships and then separately the median prices of four-room and five-room flats since they are the most popular. Queenstown recorded the highest prices for both four-room and five-room flats. The median cash-over-valuation was as high as 35,000 Singapore dollars for a four-room flat in Queenstown and 30,000 Singapore dollars in Bukit Merah.
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