HDB resale flat transactions fall 10.9% year-on-year in February even as prices remain flat

An MRT train travelling along the track among a block of housing flats in Bukit Batok Central.
An MRT train travelling along the track among a block of housing flats in Bukit Batok Central.PHOTO: ST FILE

SINGAPORE - Housing Board (HDB) resale flat transactions fell in February even as prices remained stable, according to flash estimates released by property portal SRX Property on Thursday (March 9).

Last month, 1,074 flats were sold, down by 8.5 per cent from 1,174 units in January. Compared to February last year, the latest transaction number was a drop of 10.9 per cent.

The volume of resale units peaked at 3,649 units in May 2010.

HDB resale prices were flat in February this year, dipping by 0.3 per cent over January, and falling 0.6 per cent compared to February last year.

This February's slight dip compared to a year ago was led by a decline of 1.9 per cent in non-mature estates. Mature estates, however, bucked the trend, with a 1.1 per cent increase in the same period.

The slip in last month's price is marginal across all flat types and housing estates. Prices fell 0.2, 0.5 and 1.7 per cent respectively for four-, five-room and executive flats.

Meanwhile the price of three-room flats increased by 0.2 per cent.

In mature estates, prices rose by 0.4 per cent while in non-mature estates, the drop was 0.8 per cent.

Overall, buyers paid $2,000 less than the estimated market value last month.

In towns with more than 10 resale transactions, Bedok reported the highest above-market prices, as buyers there forked out $10,000 more. Clementi home prices were second highest, with a price difference of $4,000.

Queenstown recorded the lowest below-market prices, with buyers paying $12,500 below value, followed by Ang Mo Kio, at $11,000.