Residential

HDB resale prices lowest in two years

In May, HDB resale prices have fallen for four consecutive months, hitting a new low in two years since April 2012. According to an HDB flash report by SRX, resale prices of HDB flats fell by 1.2 per cent in May as compared to the previous month. HDB executive flats saw the sharpest decline in its resale prices, with a 2.8 per cent fall. Ong Kah Seng from R’ST Research believes that demand for executive flats have fallen due to lower mortgage limits, as the mortgage servicing ratio is currently capped at 30 per cent of gross monthly salary. Besides the low resale prices, transaction volumes have also been low. While there was a 4.4 per cent month-on-month increase in transaction volumes in April, transaction volumes also fell by 11.1 per cent from April to May. Christine Li, ...