The resale volume for Housing Board flats went up by 8.1 per cent last month, property data portal SRX said in a flash report yesterday. According to resale data it compiled, 1,983 HDB resale flats were sold last month, compared with April's 1,834.

Last month's resale volume was also 7.5 per cent higher than in May last year, when 1,844 units were resold.

At the same time, resale prices last month fell slightly by 0.1 per cent compared with April.

The resale prices of five-room HDB flats and executive flats increased by 0.5 per cent and 0.3 per cent respectively, while those of three-room flats remained unchanged. Prices of four-room flats decreased by 0.1 per cent.

Across the board, prices have declined by 11.6 per cent since the peak in April 2013. Since May last year, prices have fallen slightly by 0.7 per cent.

In May, HDB resale prices in mature estates rose by 0.2 per cent, compared with a 0.4 per cent dip in non-mature estates.

Mr Ong Kah Seng, director of R'ST Research, said the rise in resale activity last month over April, even as prices fell over the same period, reflect that resale flat buyers are "still generally opportunity-driven and realistic".

"They generally buy in accordance to what they deem to be reasonable pricing, a value buy, and are overall cautious in offering high purchase prices, " he said.

But he said that it is unlikely there will be a major rise in resale prices in the months ahead, with buyers still opportunistic and looking for flats that are value for money.