Singapore Property News This Week #164

Residential

HDB resale prices lowest in two years

In June this year, HDB resale prices have fallen 6.1 per cent year-on-year—the lowest it has been since April 2012. According to the Singapore Real Estate Exchange (SRX), there was a 0.6 per cent month-on-month fall in June. Not only so, data from SRX showed that 1,315 HDB flats changed hands in June this year, compared to the 1,320 resale flats that were transacted in May. For five months straight, HDB resale prices have been falling. While resale prices of HDB executive flats have increased by 1.3 per cent month-on-month in June this year, resale prices of three, four and five-room flats have dipped. According to Eugene Lim from ERA Realty, prices are expected to fall further as cooling measures take effect. Ong Kah Seng from R’ST Research agrees that prices may continue to stabilise in the upcoming months …