HDB resale market remains subdued

SINGAPORE — The HDB resale market remained subdued in June, with prices falling for the 5th consecutive month to reach a two-year low and sales volume falling.

Resale prices slipped 0.6 per cent in June compared with the previous month, with declines in the prices of 3, 4 and 5 room flats, according to data released today (Thursday) by the Singapore Real Estate Exchange (SRX). However, there was a 1.3 per cent increase in the price of executive flats.

The SRX said that June’s prices marked a new low since April 2012. It also pointed out that since reaching a peak in April 2013, prices have declined by 6.8 per cent. And so far this year, prices have fallen by 3 per cent.

In volume terms, there was a small decline, with 1,315 HDB resale flats changing hands compared with 1,320 in May. On a year-on-year basis, there was also a marginal fall compared with the 1,325 units sold in June last year.

The HDB resale market has struggled this year with property buyers gravitating more toward BTO flats and competitively priced private units.