Housing Board resale prices back on downward trend, slip 0.6 per cent in February

Resale prices for Housing Board flats were back to their downward trend in February as predicted by property analysts, slipping 0.6 per cent compared with January, and bringing prices 5.7 per cent lower than a year ago. -- PHOTO: ST
Resale prices for Housing Board flats were back to their downward trend in February as predicted by property analysts, slipping 0.6 per cent compared with January, and bringing prices 5.7 per cent lower than a year ago. -- PHOTO: ST

SINGAPORE - Resale prices for Housing Board flats were back to their downward trend in February as predicted by property analysts, slipping 0.6 per cent compared to January, and bringing prices 5.7 per cent lower than a year ago.

According to flash figures from SRX Property on Thursday morning, the overall price drop was driven by the prices of three-room, four-room and executive flats, which decreased by 1.2 per cent, 0.6 per cent and 0.4 per cent respectively. Resale prices for five-room flats remained stable.

This comes after prices edged up slightly in January compared to December last year, by 0.2 per cent, which SRX Property revised from the 0.6 per cent increase previously reported.

Resale prices in both mature and non-mature estates also dipped last month, by 0.6 per cent and 0.7 per cent respectively.

Resale volume plunged 8.5 per cent from the 1,255 units in January to 1,148 units last month. Still, this was a 20.7 per cent increase from the 951 units resold in February last year.

Last month, HDB buyers also paid an average of $4,000 less than SRX's estimated market value for their flats.

yeosamjo@sph.com.sg