THE combined value of private and public homes in Singapore's north-east is $396 million less today than when they were bought, a new report has found.
The report by SRX Property sought to calculate the "paper losses" faced by home owners across Singapore, given the recent slide in property prices.
Of the 7,619 Housing Board flats in Sengkang with caveats lodged historically, 46.9 per cent or 3,575 owners would suffer losses if they were to sell at today's estimated market value, SRX Property said.
This calculation is based on the price the owners paid for their homes.
The total amount of paper losses for HDB flats in the area is $164 million, SRX found.
Of the 3,730 HDB flats in Punggol with caveats lodged, 49.6 per cent or 1,849 owners would suffer losses if they sold at today's value - a total paper loss of about $114 million.
As for private homes, out of 3,615 non-landed homes in Seletar, 43.7 per cent or 1,578 are looking at a paper loss totalling $118 million.
The top five projects in the district with the highest percentage of units with paper losses are The Topiary, Seletar Park Residences, Floraville,
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