HDB resale prices dip marginally, sales volume goes up

HDB flats in Bukit Batok Central.
HDB flats in Bukit Batok Central. PHOTO: ST FILE

SINGAPORE - Resale prices for Housing Board flats dipped slightly by 0.7 per cent in August over the previous month, reversing the slight increase seen in July and further delaying a market rebound.

Compared to a year ago, August HDB resale prices were also down 0.2 per cent.

The price dip in August versus July was led by that of three-room, four-room and five-room flats - which went down by 0.6 per cent, 1 per cent and 0.6 per cent respectively - according to latest flash figures from SRX Property.

Prices for executive flats went up by 0.8 per cent.

The overall price dip was seen across flats in mature and non-mature estates, which decreased by 0.4 per cent and 1 per cent respectively in August compared to July.

Since their peak in April 2013, HDB resale flat prices have slid 11.5 per cent.

However, the volume of flats that changed hands last month went up by almost a fifth - from 1,573 units sold in July to 1,879 flats transacted in August.

This is about 30 per cent more than the 1,447 units resold a year ago.

R'ST Research director Ong Kah Seng said that any price rebound is unsustainable as overall public housing sentiments remain weak.