Aug 07, 2015

    Resale flat prices down again: SRX

    RESALE prices and volume for Housing Board flats fell again last month, going against predictions by analysts that the market might stabilise soon.

    The dip was led mainly by five-room-flat prices, which fell by 1.2 per cent, according to SRX Property data.

    Prices of three-room flats remained flat, while prices of four-room and executive flats dipped by 0.7 per cent and 0.9 per cent respectively.

    Prices have fallen 4.3 per cent since a year ago, and 11.4 per cent since their peak in April 2013.

    Some 1,552 flats exchanged hands last month, down 9.2 per cent from the 1,709 units transacted in June.

    But ERA Realty's key executive officer Eugene Lim said the price decrease was "not very significant" and "possibly due to month-to-month fluctuations".

    "Resale HDB prices are largely within expectations and transacted prices continue to point to a stabilising market," he said, adding that he expects resale volume to stay resilient for the rest of the year.