Chart of the Day: HDB resale volumes more than doubled in Q3

The same quarter was also the strongest on record since Q3 2010.

This chart from OrangeTee & Tie shows that 7,787 units were transacted in Q3 2020, 127.3% higher than the number of units transacted in the previous quarter.

On a yearly basis, resale volume rose by 24.3% from 6,264 units in Q3 2019.

According to HDB data, Q3 was the strongest quarter sales on record since Q3 2010, when 8,205 units were sold. For Q1-Q3 2020, 17,106 units were sold, slightly lower than the 17,375 units sold in the same quarters last year.

Demand for resale flats remained elevated above 2,400 units for four consecutive months since June.

The stellar sales imply that the demand remains healthy even with the pandemic, the report said, with some demand could be drawn from the build-to-order (BTO) market. Many BTO flats from recent launches were set to be completed in four to five years’ time and the long waiting period pushed some buyers to the resale market, particularly for those with urgent needs.

Moreover, many BTO pilots were also oversubscribed and failed candidates may have bought resale flats as an alternative, it said.

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