HDB resale prices edge up in January for first time in a year: SRX

HDB flats in Jalan Bukit Merah. HDB resale prices edged up 0.6 per cent in January, the first increase in a year. -- ST PHOTO: JAMIE KOH
HDB flats in Jalan Bukit Merah. HDB resale prices edged up 0.6 per cent in January, the first increase in a year. -- ST PHOTO: JAMIE KOH

SINGAPORE - After a year of consecutive monthly declines, Housing Board resale prices edged up 0.6 per cent in January, according to SRX Property flash figures on Thursday. But experts said not to take this as a sign that the market is rebounding.

The last time HDB resale prices rose was in January 2014. They have fallen 5.7 per cent since then.

The rise in January 2015 was driven by four- and five-room flats, which saw prices increase by 1.1 per cent and 1.5 per cent respectively. This more than made up for falls in three-room and executive flat prices of 0.9 per cent and 0.6 per cent respectively.

Both mature and non-mature estates saw price increases, of 0.5 per cent and 0.7 per cent respectively.

But experts said that this did not mean a market rebound. ERA Realty key executive officer Eugene Lim said it was just a reflection of fluctuations due to monthly collection of data, rather than over a longer time period.

Resale volume fell 3.1 per cent in January with 1,255 flats sold, down from 1,295 in December.

Yet this was 15.3 per cent more than the 1,088 units sold in January 2014.

janiceh@sph.com.sg