Monday, Sep 22, 2014Monday, Sep 22, 2014
Singapore
 

Fewer new resale flats put up for sale

Lacklustre market prompts owners to stay past minimum 5-year period

Published on May 2, 2014 6:15 AM
 
HDB resale transactions fell to just 18,100 last year, the fewest since 1997. Resale prices also fell 0.6 per cent over 2013. -- ST PHOTO: ALPHONSUS CHERN

Fewer flat owners are jumping at the chance to sell their Housing Board unit once they can, as weak resale prices make it more worthwhile to hold on.

Two years ago, almost one in five of those who turned eligible to sell their flat - having stayed for the minimum five years - promptly did so within the year.

But last year, amid a cooling market, only 5.5 per cent who had met the minimum occupation period (MOP) did so.

Of 8,521 possible flats, 470 changed hands within a year of meeting MOP, HDB figures showed.

 
If you are not a subscriber, you can get instant, unlimited access here

Background story

FEW TAKERS

Some HDB sellers could take up to several months before finding a buyer.

- OrangeTee head of research Christine Li, on falling resale demand

Videos