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Resale flat prices slip 0.1% in Q1
Prices of HDB resale flats fall slightly. HDB resale flat prices fell by 0.1 percent in the first quarter of 2016 from the previous three-month period, according to latest statistics from the Housing and Development Board (HDB).
The number of transactions in the resale market also dropped by 10.9 percent from 4,992 cases in Q4 2015 to 4,449 cases in Q1 this year.
Mohamed Ismail, CEO of PropNex Realty, said: “Transactions in Q1 tend to be weaker due to the Chinese New Year holidays, and February being a shorter month.
“However, transactions are expected to gradually increase due to the falling prices, which will slowly attract more buyers to pick up resale units. As such, we expect HDB resale prices to be flattish in 2016, with marginal price movements in 2016.”
Bucking the trend, the number of applications approved for subletting of HDB flats rose by 5.8 percent, from 10,618 cases in Q4 last year to 11,239 cases in the first three months of 2016.
As at March, 51,052 HDB flats were sublet, an increase of 1.6 percent over the previous quarter.
In the upcoming May 2016 Build-To-Order (BTO) exercise, the HDB will offer about 4,000 BTO flats and about 5,000 balance flats. More details will be released closer to the launch date.
Source: HDB
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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