Fewer HDB resale flats sold in Sept - 14% drop from Aug

Oct 6, 2017

Daniel Ong

Fewer Housing Board resale flats were sold last month than the month before. SRX Property said yesterday that there were 1,683 resale flats sold in September, a 14 per cent drop from 1,957 units sold in August.

But the number of such flats sold last month remained almost unchanged when compared with the 1,684 units resold last September.

Still, resale volume was down by 53.9 per cent from the peak of 3,649 units sold in May 2010.

Mr Ismail Gafoor, chief executive of PropNex Realty, said the fall last month could be due to the Hungry Ghost Festival. He expects sales "to finish strongly, with sales for the remaining three months to exceed 1,800 units monthly".

Dr Lee Nai Jia, head of research at Edmund Tie & Company, said: "While the private market is picking up, the HDB market seems to be slowing."

Prices of resale flats also dipped slightly last month, falling 0.3 per cent from August.

Resale prices of three-room, four-room and executive flats fell by 0.5 per cent, 0.6 per cent and 1.5 per cent respectively.

Prices of five-room flats rose by 0.1 per cent.