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HDB Resale Flat Volume Hits New High Post Cooling Measures

Fizah Hatman
Updated

This article was originally on GET.com at: HDB Resale Flat Volume Hits New High Post Cooling Measures

The number of HDB resale flats sold in Singapore in April this year has hit a new high with 1,828 units sold since the implementation of the Additional Buyer’s Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR) in 2013.

According to the latest flash figures from SRX Property, the number of transactions in April translated to a 10.3% jump from the 1,657 units sold in the previous month.

The main question that comes with the high number of transactions is, does the volume increase signal a market rebound?

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Not necessarily. Even though the transaction volume has gone up, the prices for resale flats have remained relatively stagnant since April 2015.

For example, prices for HDB resale flats in April 2016 dipped by 0.2% year-on-year.

When compared to March 2016, the resale prices have decreased a slight 0.1%.

However, this jump in volume transactions coupled with relatively stagnant price movements indicates a stability in market conditions. Buyers and sellers now have a better idea of what prices to expect and what prices to ask for when transacting on the property.

Keen To Buy A Property?

Given that the cooling measures are here to stay for the time being, prices for HDB resale flats are not expected to go up for the rest of the year. Perhaps, this is a good time for you to consider buying a property.

If you're looking for a new flat, finding out how much you need to buy your first HDB flat might help you when you're organising your finances.

Or if you’ve been considering to refinance your home loan, then you should check out these 4 things you should consider when comparing home loans.

Are you looking for a home loan? Perhaps you can consider a home loan without a lock in period as such a home loan package will give you flexibility. You can switch your home loan package whenever you find a cheaper deal elsewhere.

Save time by comparing home loans, with a home loan comparison site like GET.com.

What do you think? Share your comments with us below!

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