In The News

Singapore, 06 Mar 2020

The month of January saw HDB resale prices increase by 0.7%, an indicator that market sentiments for the property market has not soured. In addition, although HDB resale volume fell month-on-month by 13.1%, it was still a 26.9% increase from February 2019.

OrangeTee & Tie research head Christine Sun noted that the HDB resale market remained largely resilient last month despite the Chinese New Year festive period, which typically sees lower sales activity, and concerns surrounding the coronavirus.

"Resale volume surged significantly compared with the same period a year ago, registering the best performing February sales (period) since 2017," she said.

"As of now, house hunters still seem to be keen on buying properties despite the Covid-19 (situation). Any impact from the virus may likely be short-term."