Singapore: Resale price of HDB units dips 0.1% as cost of resold condos ticks 0.9% up

On a yearly basis, prices have decreased by 0.2 percent from last year.

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A view of private residential apartments and public housing estates in Singapore Reuters

The latest figures by the SRX Property has revealed a decrease in HDB resale prices in June 2017, down 0.1 percent from the previous month. This came as non-landed properties resale prices inched 0.9% up in the same month.

According to the SRX Property Price Index for HDB Resale, prices of HDB Executive increased by 1.7 percent, while HDB 3 Rooms, HDB 4 Rooms, and HDB 5 Rooms decreased by 0.2 percent, 0.3 percent, and 1.5 percent, respectively.

On a yearly basis, prices have decreased by 0.2 percent from last year. Since the peak in April 2013, resale prices have declined by about 11.7 percent.

The slight price decrease in HDB saw resale volume slump 11.6 percent in the past month, with only 1,753 flats sold from the 1,984 transacted units in the preceding. month. This represents a 5 percent decrease from the 1,846 units resold last year and a 52 percent nosedive from the peak of 3,649 units in May 2010.

On the other hand, the improvement in condo resale prices was seen in its individual sectors. Prices in Core Central Region (CCR) and Outside Central Region (OCR) went up by 1.3 percent and 1.1 percent, respectively. Condo unit prices in the Rest of Central Region (RCR) remained unchanged in the said month.

Compared to a year ago, resale prices in June reported a 2,2 percent growth, with CCR, RCR and OCR reflecting strong price expansions of 3.7 percent, 3.0 percent and 0.8 percent, respectively. In contrast with the peak of resale prices in January 2014, last month's figures were down 4.4 percent...

The price increase came with the 12.5 percent decrease in overall resale volume. According to Non-Landed Private Residential Resale data compiled by SRX Property, only 1,065 units were resold, down from 1,217 units recorded in the preceding month.

However, compared to a year ago, the recent resale volume was up 51.1 percent from the 705 units resold in the same period last year. June's resale volume fell short to reach the 2,050 units resold at the peak in April 2010.