Results 1 to 2 of 2

Thread: More HDB resale flats sold in August

  1. #1
    Join Date
    Oct 2011

    Default More HDB resale flats sold in August

    More HDB resale flats sold in August

    SEP 8, 2017

    Sue-Ann Tan

    More HDB resale flats were sold last month, with prices a tad higher than in the previous month.

    In all, 1,957 flats were sold, a 9.6 per cent rise over the 1,785 units in July. The number of transactions completed also represented a 3 per cent increase over the 1,900 units resold in August last year.

    Compared with July, last month's prices rose by 0.1 per cent. But the year-on-year comparison showed prices had dropped by 0.7 per cent.

    These trends were sketched by property portal SRX Property yesterday. They were based on resale data the HDB released on Monday.

    There are two probable reasons for the increased resales, said Mr Nicholas Mak, executive director of property firm ZACD Group.

    One is the rush to seal the deal before the annual Hungry Ghost month, which began on Aug 22.

    "Some people believe that it is inauspicious to make big life decisions, like buying a home, during the Hungry Ghost month," he said.

    The other reason is that people typically buy flats before the holidays in the last quarter.

    SRX Property also gave an overview of the areas that fetched prices above or below the estimated market value.

    The majority of buyers purchasing flats in Serangoon paid a median of $11,000 above the estimated market value, making it the best-performing area in the resale market. It was followed by Bukit Panjang, with a median sum of $6,000 above market value.

    At the other end of the scale, buyers of Hougang flats paid below market value, with the median at $7,000. Pasir Ris came next, with the median at $6,000.

    International Property Advisor chief executive Ku Swee Yong said Serangoon flats have acquired a "certain shine" because of the upcoming development of Bidadari estate. Transport links also have an impact on resale flats, he added.

    "It is rather unusual for Bukit Panjang to be among the better-performing areas, but a possible reason may be the Downtown Line, which is attracting more people to the area," Mr Ku said.

    Conversely, Hougang and Pasir Ris flats fetched prices lower than the estimated market value as they are "quite out of the way", he added.

  2. #2
    Join Date
    Oct 2011


    HDB resale prices dip 0.7% y-o-y in Aug: SRX

    However, transaction volumes rise 3% over the same period; prices ease 0.2% in mature estates and 1.1% in non-mature estates

    SEP 08, 2017


    RESALE prices of Housing & Development Board (HDB) flats slipped 0.7 per cent year on year in August while the volume of resale transactions rose 3 per cent over the same period, flash estimate by SRX Property for last month shows.

    According to the SRX Property data, 1,957 HDB flats were resold in August 2017, compared with 1,900 in August 2016.

    Last month's figure also reflects an increase of 9.6 per cent from the 1,785 units that changed hands in July 2017. However, the latest figure is 46.4 per cent lower than the peak of 3,649 units in May 2010.

    SRX Property's overall resale price index for HDB flats inched up 0.1 per cent month on month in August after slipping 0.6 per cent in July 2017.

    The price index is 12.1 per cent below the peak in April 2013.

    In mature estates, prices eased 0.2 per cent year on year from August 2016, a smaller pace of decline compared with a 1.1 per cent price fall in non-mature estates over the same period.

    ZACD Group's head of research and consultancy Nicholas Mak suggested that a possible reason behind the the month-on-month improvement in transaction volumes is that some buyers may have rushed to seal deals before the start of the Hungry Ghosts month on Aug 22; some Chinese avoid buying a property during the month.

    OrangeTee's head of research and consultancy Wong Xian Yang commented that HDB resale prices continue to fluctuate in a sideway trend due to a confluence of factors. "Buying activity remains healthy and is supported by strong latent demand and improved affordability due to lower HDB resale prices compared to 2013 and the enhancement of the CPF Housing Grant earlier this year.

    "Resale HDB volumes have continued to rise on a year-on-year basis, and higher volumes should lead to higher prices eventually, barring any changes in housing policies or unexpected market distress."

    That said, price growth is projected to be gradual due to strict loan curbs, he added.

    He expects HDB resale volumes to improve by about 2-5 per cent in 2017 over 2016, with prices likely to be range-bound between -1 per cent and +1 per cent this year.

Similar Threads

  1. Demand for HDB resale flats remains strong in August: SRX
    By New Reporter in forum HDB, EC, commercial and industrial property discussion
    Replies: 10
    -: 09-09-20, 08:22
  2. More HDB resale flats sold in Oct after policy changes kick in
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 08-11-19, 21:29
  3. Fewer HDB resale flats sold in August, prices up slightly: SRX
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 09-09-19, 14:34
  4. Number of HDB resale flats sold declines by 22.3%
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 04-05-18, 20:09
  5. 40,000 HDB resale flats sold
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 21-10-10, 21:25

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts