Singapore, 08 Sep 2022 WHILE prices of Housing Board (HDB) resale transactions logged their 26th consecutive month of increase in August, their volumes remained on a downtrend to potentially signal a drop in demand.
According to flash estimates from property portal SRX and 99.co released on Thursday (Sep 8), resale prices increased a marginal 0.4 per cent in August from the previous month with mature and non-mature estates booking 0.8 per cent and 0.2 per cent growth in prices, respectively.
OrangeTee & Tie’s senior vice-president of research and analytics, Christine Sun, believes the more affordable prices of units released during the August BTO launch could have been another contributing factor to the slower buying sentiment in the HDB resale market this month.
“With a strong employment rate and income growth, there is little impetus for sellers to drop prices now. We may expect more sellers, especially new flats in mature estates to test the million-dollar mark. Hence, we may see more million-dollar transactions in the coming months,” commented Sun of OrangeTee & Tie.