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Five-room and executive flats bear brunt of slow resale market

Fewer units sold, and it is taking longer to find buyers despite falling prices

Published on Aug 3, 2014 6:13 AM
 
Sales of five-room and executive flats have been the worst hit by the shrinking Housing Board resale market. -- PHOTO: ST FILE

Sales of five-room and executive flats have been the worst hit by the shrinking Housing Board resale market.

Not only are fewer of these large flats being sold, but they are also taking more than twice as long to find buyers, compared with five years ago.

This is despite prices falling since the start of last year. The median cost of a five-room flat in

Sengkang, for example, was $495,500 in the second quarter of this year, down from $523,000 at the start of last year.

 
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