Singapore, 05 Aug 2020 Singapore’s HDB resale market avoided a major price correction, with prices remaining surprisingly stable in the past two quarters, revealed OrangeTee & Tie.
But while prices remained stable, the number of resale transactions dropped by over 41.9% to 3,426 units during Q2 2020. OrangeTee attributed the sales decline to the tighter safe distancing measures enforced by the government during the pandemic and the circuit breaker period.
Looking ahead, OrangeTee expects demand for HDB resale flat to return to some normalcy over the coming months given that house viewings have fully resumed.