Sep 05, 2014

    HDB resale prices down for 7th month

    RESALE prices for Housing Board flats continued to slump for the seventh consecutive month last month, marking a new low since January 2012.

    Overall prices slipped by 1.1 per cent last month compared with July, according to Singapore Real Estate Exchange (SRX) flash figures yesterday.

    Compared with the peak in April last year, prices have gone down by 8.6 per cent.

    In particular, three- and four-room flats drove the index down, with price declines of 2 per cent and 0.9 per cent respectively. The prices for five-room and executive flats, however, went up by 0.8 per cent and 1.5 per cent respectively.

    The resale volume went down by 1.1 per cent, with 1,327 units transacted last month, compared with 1,342 in July. In contrast to the peak in May 2010, when 3,649 units were sold, the resale volume dropped by 63.6 per cent.

    Meanwhile, rental prices and volume stayed relatively flat, with an estimated 1,550 HDB flats rented last month.

    According to SRX, buyers paid an average of $3,000 less than the estimated market value for flats.