Number of resale HDB flats sold at 2-year high
THE resale volume for Housing Board flats rose to its highest in two years last month, further signalling a market recovery.
There were 1,709 HDB flats sold last month, up more than 8 per cent from the 1,575 units in May, according to latest SRX Property data. This is the highest since May 2013, and a third up from June last year.
Resale prices also inched up 0.1 per cent last month, after rising 0.2 per cent in April and staying flat in May.
While prices of three-room flats dipped by 0.2 per cent, that of four-room, five-room and executive flats were up by 0.3 per cent, 0.5 per cent and 0.7 per cent respectively.
This comes after months of prices heading south market cooling measures such as an increased mortgage servicing ratio limit, were introduced.
Said key executive officer of ERA Realty, Eugene Lim: "This adds strength to the proposition that HDB resale prices are stabilising."
Mr Lim noted that prices have "practically remained unchanged" since March.
Donald Yeo, head of agency and training at real estate agency DWG, said this is a sign that more sellers have come to terms with the weaker market.
"They were waiting for prices to go back up. But some have become more realistic and don't want to make a bigger loss," he said.
Mr Lim expects resale volume to stay resilient as the Government eases the Build-to-Order flat supply, and buyers with immediate housing needs turn to resale units.
But experts believe that any rebound in prices will be slow, partly due to ongoing cooling measures.
R'ST Research director Ong Kah Seng believes buyers will remain selective "amid ample choices of flats put up for sale".