SINGAPORE - Resale prices for Housing Board flats rose slightly in August, sticking to their relatively flat trend in recent months.
Overall, prices inched up 0.3 per cent from July to August, according to latest figures from SRX Property. This was mainly led by the prices of four- and five-room flats, which increased by 1.4 per cent and 0.9 per cent respectively.
Prices of three-room and executive flats, however, slid by 0.7 per cent and 2 per cent. Compared to a year ago, prices have dipped 3 per cent, and are down 11.3 per cent since their peak in April 2013.
The number of transacted units dropped by 6.8 per cent. There were 1,447 flats sold in August, down from the 1,552 that exchanged hands in July.
This brings resale volume up by 9 per cent from a year ago. Volume, however, is still down about 60 per cent from its peak in May 2010.
Experts have said that the resale market's recovery, if any, will be slow with a long bottoming out period.