HDB resale prices down 0.2% in Q3

It will also offer 3,800 build-to-order flats in Sembawang, Sengkang, Tampines, Tengah, and Yishun.

HDB’s flash estimate of the Q3 2018 Resale Price Index (RPI) dipped 0.2% to 131.5.

In November 2018, HDB will offer about 3,800 Build-To-Order (BTO) flats in Sembawang, Sengkang, Tampines, Tengah, and Yishun. Those in Sembawang, Sengkang and Yishun will have a shorter waiting time of 2.5 years, instead of the typical 3 to 4 years, to the flat buyers.

Speaking on the price changes, ERA Realty key executive officer Eugene Lim said this is a slight decrease from the 0.1% increase in resale HDB prices seen in the preceding quarter. “However the level of decrease is within expectations,” he added.

Moreover, for the first three quarters of 2018, prices have decreased by an estimated 0.8%.

PropNex Realty CEO Ismail Gafoor commented, “The public housing segment illustrated resilience and consolidation as a segment not hugely affected by the recent cooling measures. HDB resale properties will still be in demand, especially so from en bloc owners considering bigger sized flats as their replacement homes.”

OrangeTee & Tie head of research and consultancy Christine Sun also noted that the drop is considered very marginal. “Price continued to hold steady, trending within +1% and -1%. HDB upgraders may not be in a hurry to offload their flats as not many are collecting their keys in the near term since there are few condo and EC completions in recent months,” she said.

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