News: HDB resale prices on decline again

Oct 1, 2018

Resale flat prices rose slightly in Q2, but reverted to its declining trend in Q3.

After a brief stint on the upside, prices of resale flats continued its downward trend as it fell 0.2 percent in the third quarter 2018, revealed flash estimates from the Housing and Development Board (HDB).

Resale prices of HDB flats have been falling over the past year, with prices dropping 0.7 percent in Q3 2017, 0.2 percent in Q4 2017 and 0.8 percent in Q1 this year. While it climbed 0.1 percent in Q2 2018, it reverted to its declining trend in Q3.

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Providing information on the general price movements within the resale public housing market, the resale price index slid from 131.7 in Q2 to 131.5 in Q3.

HDB said it will release the resale price index for the full quarter on 26 October.

It also revealed that about 3,800 Build-To-Order (BTO) flats in Sengkang, Sembawang, Tengah, Tampines and Yishun will be launched in the November sales exercise.

HDB noted that those buying flats in Sengkang, Sembawang and Yishun can expect a shorter waiting time of 2.5 years, instead of the usual three to four years.

“There will also be a concurrent Sale of Balance Flats exercise,” it added.

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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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