SINGAPORE - Signs of a stabilising resale Housing Board flat market are emerging after the latest data showed that resale prices have remained flat.
SRX Property data showed that resale prices were unchanged in May compared to April.
Volumes also declined slightly by about 2.2 per cent, with some 1,575 flats exchanging hands in May compared to the 1,610 sold in April.
But the number of flats sold jumped by about 20 per cent compared to the same period last year.
Some 1,575 resale flats were sold in May, 19.3 per cent higher than the 1,320 sold in the same period last year.
To date, resale prices are about 5 per cent lower compared to May last year.
The market has generally been on a downward slide but experts have been expecting the market to stabilise and even find a bottom soon.
National Development Minister Khaw Boon Wan had previously said that he expects the market to fall further this year, although at a slower pace than last year.