HDB resale prices rose by 1.4 per cent in Q4 2008 over the previous quarter - lower than the 4.2 per cent increase seen in third quarter and the 4.5 per cent climb recorded in the second quarter.
Resale transactions decreased by about 24 per cent, from about 8,110 cases in third quarter of 2008 to about 6,190 cases in fourth quarter. The total number of resale transactions for 2008 was 28,419, about 3 per cent lower than in 2007.
The median cash-over-valuation (COV) amount among all resale transactions conducted in Q4 2008 was $15,000 - which was $4,000 lower than that in Q3.
Cases requiring COV constituted 85 per cent of all resale transactions in fourth Quarter 2008, 4 per cent lesser than that in the third quarter.
Source: Business Times - 23 Jan 2009