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Thread: Demand for HDB resale flats remains strong in August: SRX

  1. #1
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    Default Demand for HDB resale flats remains strong in August: SRX

    Demand for HDB resale flats remains strong in August: SRX

    2,435 units sold last month; prices grow at fastest monthly rate since February

    Fri, Sep 04, 2020

    https://www.businesstimes.com.sg/rea...n-august-srx-0

    SALES of Housing and Development Board (HDB) resale flats remained strong in August while prices grew at the fastest monthly rate since February.

    There were 1.4 per cent fewer HDB resale flats sold in August compared with July, but this volume was 23.5 per cent higher than the same month last year.

    In all, 2,435 HDB resale flats were sold in August, flash estimates from real estate portal SRX showed on Thursday.

    Of the HDB flats sold last month, 40.3 per cent were four-room flats, 26 per cent were five-room flats, 23.2 per cent were three-room flats and 8.8 per cent were executive flats. The rest of the transactions involved multi-generation and two-room flats.

    OrangeTee & Tie's head of research and consultancy Christine Sun said that the HDB resale market remained strong last month despite the Hungry Ghost Festival from Aug 19 to Sept 16, which typically sees lower sales activity.

    "The strong sales volume over the past three months is not likely to be a 'blip' after the 'circuit breaker' period," she added. "Market sentiment could be slowly recovering since the virus outbreak is stabilising in Singapore and some sectors are starting to experience a business turnaround after the circuit breaker period."

    Data from SRX showed a 0.7 per cent increase in August's resale prices compared with July's.

    Last month's resale prices were 2.1 per cent higher than the same month last year, but 12.1 per cent lower than the peak for HDB resale prices in April 2013.

    Prices in non-mature estates rose by 3.3 per cent year on year while those in mature estates rose by 0.2 per cent.

    ERA Realty's head of research and consultancy Nicholas Mak said the increase in the HDB resale price index in August represented the highest rate of monthly growth since this February.

    "The growth in the price index was contributed by the resale transactions of HDB flats that recently completed the five-year minimum occupation period. These newer flats would usually command higher prices that the older flats in the vicinity," he noted.

    A five-room flat at Pinnnacle@Duxton recorded the highest transacted price for a resale flat in August at S$1,185,000. It was one of five HDB resale flats sold for at least S$1 million this month.

    An executive maisonette flat in Hougang sold for S$890,000, in what was the highest resale price for non-mature estates.

    Data from SRX also showed that the overall median transaction over X-value (TOX) was a positive S$3,000 in August, an increase of S$2,000 compared with July.

    Median TOX measures whether people are overpaying (in the case of positive TOX) or underpaying (when there is negative TOX) relative to the SRX Property X-value estimated market value for flats.

    Flats in Bukit Batok recorded the highest median TOX at positive S$10,500, while those in Kallang/Whampoa recorded the lowest median TOX at negative S$4,000. THE STRAITS TIMES

  2. #2
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    https://www.teoalida.com/singapore/hdbprices/

    Stupidity: instead of providing an adequate supply of flats, they kept supply low during 2000s despite of population increase, and while demand was rising too few flats entered in resale market, then during 2010s HDB artificially slowed down demand for resale flats with cooling measures, and when prices started to drop, instead of keeping supply high and lift the cooling measures, they announced to decrease supply of new BTO flats 24300 units in 2014 to 16900 units in 2015. A stupid decision! BTO launches do not affect resale prices directly so we expect to see prices dropping and further decrease of BTO supply in the next years, thus the 2008-2013 price bubble risk to happen again during 2020s!

    https://www.facebook.com/Teo.See.Hwa...19758518766370

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    Default Re: Demand for HDB resale flats remains strong in August: SRX



    https://www.teoalida.com/singapore/hdbprices/

    Stupidity: instead of providing an adequate supply of flats, they kept supply low during 2000s despite of population increase, and while demand was rising too few flats entered in resale market,
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  4. #4
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  5. #5
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    PMET 35,000
    New PR - 30,000
    New SC - 20,000

    https://www.facebook.com/watch/?v=54...VtJbSIqVeGEEcF
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  6. #6
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  7. #7
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  8. #8
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    Who agrees with me that HDB resale flats will appreciate in value and demand?

    Supporting attributes:
    - BTO taking longer to complete
    - Rising construction costs
    - Increased manpower shortage
    - Overpricing of mature estates BTO
    - Very restrictive ethnic allocation for SBF/ROF
    - Slowing new towns maturity rate
    - Decreasing size and liveability of new BTOs
    click: 🏢shoeboxmickeymousehouse 🏢

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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    Quote Originally Posted by mcmlxxvi View Post
    Who agrees with me that HDB resale flats will appreciate in value and demand?

    Supporting attributes:
    - BTO taking longer to complete
    - Rising construction costs
    - Increased manpower shortage
    - Overpricing of mature estates BTO
    - Very restrictive ethnic allocation for SBF/ROF
    - Slowing new towns maturity rate
    - Decreasing size and liveability of new BTOs
    but some of these points r also valid for resale private property?

  10. #10
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    Quote Originally Posted by bargain hunter View Post
    but some of these points r also valid for resale private property?
    Naturally, since construction boom or bust affects all sectors of property development.

    Effects probably more acutely felt by public housing since the volume is much larger.
    click: 🏢shoeboxmickeymousehouse 🏢

  11. #11
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    Default Re: Demand for HDB resale flats remains strong in August: SRX

    The property price did not appreciate, it is the value of money depreciate due to QE (Money printing)
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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