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Public housing resale prices up for the first time this year

SINGAPORE – The public housing resale market has gone up slightly for the first time this year after falling for eight consecutive months and prices hitting a 20-month low in September.

HDB housing at Bishan. Photo: Ernest Chua

HDB housing at Bishan. Photo: Ernest Chua

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SINGAPORE – The public housing resale market has gone up slightly for the first time this year after falling for eight consecutive months and prices hitting a 20-month low in September.

According to a flash report by the Singapore Real Estate Exchange (SRX) for last month (Oct), executive flats drove the overall index up with price increases of 0.8 per cent, while HDB resale prices went up marginally by 0.1 per cent in October compared to the month before. However, prices for HDB 4-room flats were level with those in September, while prices for HDB 3- and 5-room flats dipped by 0.4 per cent and 0.1 per cent respectively.

Overall prices were still lower when compared year-on-year, with prices dropping 6.1 per cent from October 2013.

More buyers are flocking to the market as well. According to HDB resale data compiled by SRX Property, 1,553 HDB resale flats were sold in October, a 5.7 per cent increase from 1,469 transacted units in September - making it the highest monthly resale volume this year.

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