HDB resale flat demand stays strong in Sept

HDB resale prices rose by 0.8 per cent in September compared with August. ST PHOTO: LIM YAOHUI

Demand for Housing Board resale flats has remained healthy despite the Covid-19 pandemic, with prices rising for the third straight month.

HDB resale prices rose by 0.8 per cent last month compared with August - a faster rate than the previous two months, according to flash estimates from real estate portal SRX yesterday.

More than 2,400 units were sold last month for the fourth straight month, well above the two-year monthly average of 1,842 units sold before the coronavirus outbreak, noted OrangeTee & Tie head of research and consultancy Christine Sun.

Ms Wong Siew Ying, head of research and content at PropNex, said: "Feedback from our real estate agents suggests that there is stiff competition for HDB resale units in the market, so pricing should continue to find support in the months ahead."

The highest transacted price for a resale flat recorded last month was $1.258 million for a five-room flat at The Pinnacle @ Duxton in Tanjong Pagar. It is one of eight HDB resale flats that sold for at least $1 million that month.

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A version of this article appeared in the print edition of The Straits Times on October 09, 2020, with the headline HDB resale flat demand stays strong in Sept. Subscribe