Singapore: HDB resale prices record 0.1% uptick in August

SRX Property announced that the HDB units resale prices for the month of August recorded a 0.1% uptick as resale volume surged by 9.6%.

HDB flats in Singapore
A view of a newly constructed public housing estate in Singapore Reuters

There was a slight increase in the resale prices of Housing and Development Board (HDB) units in the month of August, registering a 0.1% increase compared to that of the preceding month.

According to the data compiled by the SRX Property, the resale prices of HDB 4 Rooms and HDB Executive posted the largest increase, both at 0.4%. HDB 5 Rooms also registered an upswing of 0.2%. On the other hand, HDB 3 Rooms experienced a resale price fall of 0.4%.

Also Read: Budget 2017: Singapore to have affordable resale HDB flats for first-timer couples

On a yearly basis, prices have decreased 0.7% from August last year whilst there was a 12.1% slump in resale prices since the peak in April 2013.

Additionally, HDB resale prices in mature estates remained unchanged and non-mature estates increased by 0.3 %. Year-on-year, prices in mature estates have declined by 0.2% from last year.

The overall price uptick in the said month came with the 9.6% surge in resale volumes.

SRX noted that there were 1,957 HDB resale flats were sold, compared to the 1,785 transacted units in the preceding month.

Compared to last year, resale volume in the past month was 3% higher, up from 1,900 units. However, in contrast with the peak in May 2010, resale volume was down by 46.4%.